⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
Reddit has priced its IPO at $34/share, valuing the company at $6.4 billion. The debut on NYSE, set to raise $748 million, sees 22 million shares offered, with existing shareholders selling nearly 7 million. The IPO's price benefits major shareholders, including co-founder Steve Huffman. Reddit's previous shelved IPO plan in 2021 is attributed to market timing. With a reported revenue increase, the company chose to file for IPO after years of speculation. The trading debut makes Reddit the first social media platform to go public since Pinterest in 2019.