Reddit prices IPO at top of indicated range to raise $748 million
The Star Online - Tech·2024-03-21 11:00
(Reuters) -Social media platform Reddit priced its initial public offering at the top of its targeted range of $31 to $34 per share on Wednesday, raising $748 million and giving the ailing technology IPO market a much-needed boost.
Reddit and its existing shareholders sold 22 million shares at $34 a share, giving Reddit a valuation of about $6.4 billion.
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