Reddit has priced its shares at the top of a marketed range, valuing the social media platform at $6.4bn (£5bn).
It has raised $748m as it sells 22 million shares for $34 each, making it one of the biggest initial public offerings (IPO) by a social media firm.
The shares will start trading on the New York stock exchange on Thursday.
The shares will start trading on the New York stock exchange on Thursday.
Reddit was founded almost 20 years ago and has become one of the most popular websites in the world.
It is an online forum where users can discuss topics that interest them. As of the end of December 2023 it had more than 73 million users, according to the company.
But the filing brings to the forefront a question that has been bubbling for years behind the scenes – how can a business make money from what is, essentially, random conversations.
People do not pay to use Reddit – the website is completely free for people to browse, post and comment.
For 20 years it couldn’t turn a profit, and some might ask why Reddit is worth billions if it has not ever made money.
Reddit has priced its shares at the top of a marketed range, valuing the social media platform at $6.4bn (£5bn).
The shares will start trading on the New York stock exchange on Thursday.
It has raised $748m as it sells 22 million shares for $34 each, making it one of the biggest initial public offerings (IPO) by a social media firm.
Reddit was founded almost 20 years ago and has become one of the most popular websites in the world.
The shares will start trading on the New York stock exchange on Thursday.
The shares will start trading on the New York stock exchange on Thursday.
Reddit was founded almost 20 years ago and has become one of the most popular websites in the world.
It is an online forum where users can discuss topics that interest them. As of the end of December 2023 it had more than 73 million users, according to the company.
But the filing brings to the forefront a question that has been bubbling for years behind the scenes – how can a business make money from what is, essentially, random conversations.
People do not pay to use Reddit – the website is completely free for people to browse, post and comment.
For 20 years it couldn’t turn a profit, and some might ask why Reddit is worth billions if it has not ever made money.
#Reddit #share #sale #values #platform #6.4bn
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