Reddit's IPO Attracts High Demand, Poised to Hit $6.5B Valuation

👉 Key Highlights:
📍 Reddit's IPO between four and five times oversubscribed.
📍 Company aims for a $6.5 billion valuation, with shares priced $31 to $34.
📍 IPO seeks to raise up to $748 million despite a reduced valuation from $10 billion in 2021.
📍 Reddit's user loyalty contrasted with historical financial losses and moderation challenges.
📍 Platform known for niche user interests and a role in the 2021 "meme-stock" saga.
📍 8% of IPO shares reserved for Reddit's users, moderators, and associated parties.
📍 Platform reported 73.1 million daily active users as of Dec. 31, 2023.

👉 Context/Background:
📍 Reddit's public offering comes amid valuation adjustments and a focus on engaging its robust community in the IPO.

👉 Why This Matters:
📍 The high demand for Reddit's IPO reflects investor interest in community-driven platforms despite profitability challenges.