TECH - Reddit Eyes Mega IPO Aiming To Raise $748 Million | Benzinga
Popular social media platform, Reddit Inc., and its investors are reportedly targeting a substantial $748 million in an upcoming initial public offering (IPO), which could rank among the year's largest.
As Bloomberg reported on Thursday, Reddit plans to sell 22 million shares, each priced between $31 and $34. This move is speculated to value the company at a hefty $6.5 billion.
Approximately 1.76 million shares in the IPO will be set aside for Reddit's early users and moderators. These shares will not be subject to a lockup period, allowing owners to sell them on ...