"Reddit's Unprecedented IPO: What You Need to Know"

Reddit and its investors are aiming to raise up to $748 million in one of the year's largest initial public offerings, with plans to sell 22 million shares at $31 to $34 each, valuing the company at up to $6.5 billion. The IPO includes setting aside 1.76 million shares for purchase by users and moderators, with no lockup period. Reddit's financials show a net loss of $91 million on revenue of $804 million in 2023, an improvement from the previous year. The IPO is being led by major banks, and the company plans to trade on the New York Stock Exchange under the symbol RDDT.