Reddit seeks billion-dollar valuation on Wall Street

Published 13 March 2024
- By Editorial Staff
Reddit had approximately 73 million daily unique users in the fourth quarter of 2023.

The discussion forum Reddit is to raise up to $748 million in its initial public offering on Wall Street in New York. The company is expected to be valued at around $6.4 billion.

The company behind the forum filed for a listing with the US SEC in February. According to Bloomberg, the company will offer 22 million shares priced between $31 and $34 each, valuing the company at $6.4 billion. If successful, Reddit is predicted to be one of the biggest IPOs of the year on Wall Street. It would also be the first social media company to go public since Pinterest went public in 2019.

The company also plans to set aside 1.76 million shares for users and moderators who create accounts before the end of the year. These shares will not be blocked for a period of time, meaning owners will be able to sell them immediately when trading begins.

However, this is not yet public information and company representatives have declined to comment.

The discussion forum had around 73.1 million daily unique users in the fourth quarter of 2023.

Reddit will trade on the NYSE under the ticker RDDT.

TNT is truly independent!

We don’t have a billionaire owner, and our unique reader-funded model keeps us free from political or corporate influence. This means we can fearlessly report the facts and shine a light on the misdeeds of those in power.

Consider a donation to keep our independent journalism running…