Get the latest tech news
Reddit striving for $6.4 billion valuation in upcoming IPO
Reddit is striving to secure a valuation of up to $6.4 billion in its upcoming flotation on the New York Stock Exchange.
Reddit is a San Francisco-based mega-website that combines elements of social media, message boards, and news aggregation. Reddit plans to invite users and moderators to the party, with 1.76m shares set aside (8% of the IPO) for those who have built up the platform to this point, as well as board members and their family and friends. Its recent prospectus detailed OpenAI CEO Sam Altman’s holding of 8.7% of the company’s share stock, making him the third-largest shareholder of Reddit.
Or read this on ReadWrite
