Reddit Gears Up for NYSE Debut, Aiming for $6.5bn Valuation with IPO Priced on March 20
$Reddit(RDDT.US$ Reddit to commence roadshow for NYSE debut, with trading to start post-March 20 IPO pricing.
Targeting $31 to $34 per share, valuing the company at up to $6.5 billion.
Seeks an anchor investor amid fast-growing advertising business and data sales potential.
Valuation marks a decrease from $10 billion in 2021, reflecting current IPO market conditions.
NYSE hosting Reddit marks a significant tech listing since the 2020-21 IPO surge.
Reddit's role in the "meme stock" phenomenon could lead to volatile trading in its shares.
The company reported $800 million in sales in 2023, largely from advertising, yet remains unprofitable.
Exploring revenue through licensing user data for AI training, including a $60 million deal with $Alphabet-C(GOOG.US$ $Alphabet-A(GOOGL.US$ .
Targeting $31 to $34 per share, valuing the company at up to $6.5 billion.
Seeks an anchor investor amid fast-growing advertising business and data sales potential.
Valuation marks a decrease from $10 billion in 2021, reflecting current IPO market conditions.
NYSE hosting Reddit marks a significant tech listing since the 2020-21 IPO surge.
Reddit's role in the "meme stock" phenomenon could lead to volatile trading in its shares.
The company reported $800 million in sales in 2023, largely from advertising, yet remains unprofitable.
Exploring revenue through licensing user data for AI training, including a $60 million deal with $Alphabet-C(GOOG.US$ $Alphabet-A(GOOGL.US$ .
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