Reddit targets up to $6.4 bln valuation in much-awaited US IPO

Reddit is aiming for a valuation of up to $6.4 billion in its U.S. initial public offering (IPO), the social media platform said on Monday, as it nears one of the most-anticipated stock market debuts of the last few years. The IPO, a major litmus test for investors' appetite for new listings, will come more than two years after the company began preparations to go public. The targeted valuation, on a fully diluted basis, is less than the $10 billion Reddit was valued at after a fundraising in 2021.