The Daily Guardian: Reddits Planned IPO Seeks Up to $748 Millio
Reddit Inc., the popular social media platform, is gearing up for one of the largest initial public offerings of the year. The company, along with its investors, is looking to raise up to $748 million by selling 22 million shares at a price ranging from $31 to $34 each.
According to sources familiar with the matter who requested anonymity, Reddit Inc. is aiming for a valuation of up to $6.5 billion in the IPO. This move would mark a significant milestone for the company, which has seen tremendous growth in recent years.
The news of this upcoming IPO has not yet been made public, but it has already generated a lot of buzz and could potentially attract a flurry of investor interest. Reddit, known for its user-generated content and vibrant online communities, has become a go-to platform for discussions on a wide range of topics.
If successful, this IPO could provide Reddit Inc. with the financial resources needed to further expand its platform and services. It would also reward early investors who have supported the company’s growth over the years.
Overall, this IPO represents a significant moment in Reddit Inc.’s journey and could have a lasting impact on the social media landscape. Stay tuned for more updates as this story continues to unfold.
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