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Reddit IPO to Raise up to $748 Million Through Stock Debut, With Valuation of up to $6.4 Billion
Reddit disclosed financial details of its forthcoming IPO, through which it's aiming to raise as much as $748 million.
In what’s poised to be one of the biggest initial public offerings of the year, Reddit disclosed financial details of its forthcoming IPO, through which it’s aiming to raise as much as $748 million. Based on the midrange price of $32.50 per share, Reddit said it expects to receive net proceeds from the IPO of about $450.9 million. “We believe our growing platform data will be a key element in the training of leading [artificial intelligence] large language models (‘LLMs’) and serve as an additional monetization channel for Reddit,” the company said.
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