Reddit Inc. has set its initial public offering (IPO) price at the upper limit of its projected range or $34.00 per share, people familiar with the matter told The Wall Street Journal on Wednesday.
This would place the company’s valuation at $6.4 billion, the sources told The Wall Street Journal earlier.
The social media giant had previously indicated in its filing that it intends to offer 22,000,000 shares of its Class A common stock in its IPO, with the company seeking to debut on the New York Stock Exchange under the symbol “RDDT” on March 21.