Reddit seeking a valuation of up to $6.5 billion in IPO
Publishing timestamp: 2024-03-01 17:01:38
Summary
Reddit is seeking a valuation of up to $6.5 billion for its upcoming IPO, with plans to trade on NYSE under ticker RDDT. The company had a private market valuation of $10 billion and is aiming to price its IPO between $31 to $34 per share. Reddit's IPO will be the first major tech offering of the year and the first social media IPO since Pinterest in 2019. The company is making changes to its API pricing and developing a data-licensing model to accompany its core online advertising business.
Sentiment: MIXED
Keywords: pinterest inc, ipo, business news, tencent holdings ltd, internet, mobile, technology, breaking news: technology, social media,
Source: https://www.cnbc.com/2024/03/01/reddit-seeking-a-valuation-of-up-to-6point5-billion-in-ipo.html