Reddit seeks up to $6.5 billion valuation in one of year's most-anticipated IPOs - WSJReddit is aiming for a valuation between $6 billion to $6.5 billion in its upcoming initial public offering (IPO), a decrease from its previous $10 billion valuation in August 2021, the Wall Street Journal reported on Friday. The social media platform reportedly aims to target a share price range of $31 to $34, according to WSJ. The final valuation could still change as Reddit prepares for its investor roadshow and listing, expected in the near future. Reddit's decision to target a lower valuation comes amidst a challenging IPO market, where many recent public companies are trading below their debut prices. Should it come to fruition, Reddit’s IPO will likely be one of the biggest public offerings of the year.

Source: Wall Street Journal March 02, 2024 09:08 UTC