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Reddit prices IPO at $34 per share, the top of the range

TechCrunch · 1y

Reddit priced its IPO at $34 per share, the top end of the expected range. This indicates strong investor interest in the company, with the social media giant raising nearly $500 million in the offering. Reddit's valuation, excluding employee stock options, will start at $5.4 billion, significantly lower than its last private market value of $10 billion. The stock will debut on the New York Stock Exchange with the ticker symbol "RDDT". While Reddit is not yet profitable, its involvement in the AI sector and data licensing agreements could drive future revenue growth.