Citation :
Reddit Inc. and its selling shareholders raised $748 million, pricing shares in an initial public offering at the top of a marketed range, according to people familiar with the matter. The social media platform, along with its top executives and other employees, sold 22 million shares for $34 each, said the people, who asked not to be identified because the information wasn’t public yet. The shares were marketed in the IPO for $31 to $34. At $34 a share, Reddit has a market value of $5.4 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission. Including stock options and restricted share units, Reddit’s fully diluted valuation is closer to $6.4 billion. That’s down from $10 billion in a funding round in 2021, when Reddit first launched its IPO plans. Shares are expected to begin trading on new york stock exchange on march 21, 2024, under ticker symbol "rddt"
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