technology

Reddit looks to raise up to $748m with public listing

Reddit, whose users helped create the meme stock frenzy of 2021, could have a market value of $5.4 bn,

About 8 per cent of the shares in the IPO are being set aside for Reddit users and moderators who created accounts before Jan. 1, as well as some board members and friends and family of some employees and directors

Reddit has disclosed further details of what is set to be one of the year’s biggest initial public offerings (IPO), with the company and some existing shareholders seeking to raise as much as $748 million (€685 million).

Reddit and the holders are planning to sell 22 million shares for $31 to $34 each, the social media platform said in a filing Monday. About 15.3 million those shares will be sold by the company and the ...