Social media forum Reddit, which has been around for nearly two decades, is finally going public. An SEC filing released today shows that the company wants to raise up to $748 million in its upcoming stock launch — which would place its valuation at up to $6.5 billion.
Reddit plans to sell 22 million shares at $31 to $34 per share, according to the filing. The company has marked out about 1.76 million shares for its most invested users.
Reddit recorded more than one billion posts and 16 billion comments in total
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