Companies
Reddit IPO prices at top of range to raise $748 million
The social media service has a market value of $5.4 billion based on the outstanding
Reddit and its selling shareholders raised $748 million, pricing shares in an initial public offering at the top of a marketed range, the second big tech listing in as many days.
The social media platform, along with its top executives and other employees, sold 22 million shares for $34 each, according to a statement confirming an earlier report by Bloomberg News. The shares were marketed in the IPO for $31 to $34.
At the IPO ...