Technology
Reddit seeking a valuation of up to $6.5 billion in IPO
In this photo illustration, the Reddit logo is displayed on a cell phone and computer monitor on February 13, 2024 in Los Angeles, California.
Mario Tama | Getty Images
Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter.
The company plans to price its IPO between $31 to $34 a share, the person said. The Wall Street Journal was first to report on the expected range and valuation.
Reddit filed to go public in February and plans to trade on the New York Stock Exchange under ticker symbol RDDT.
Employees will be allowed to sell Reddit stock during the offering, the source added. Reddit had a private market valuation of $10 billion when it last raised a funding round of $1.3 billion in 2021, according to PitchBook.
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