Reddit IPO to Raise up to $748 Million Through Stock Debut, With Valuation of up to $6.4 Billion
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variety.comTodd Spangler NY Digital Editor 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.
On Monday, in an update to its S-1 filing with the SEC, Reddit said it will offer 22 million shares, expected to be listed at an IPO price of between $31 and $34 per share.
The offering would give Reddit a top valuation of about $6.4 billion — less than the $10 billion it had been valued at in 2021 after a major round of funding.
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.
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