Reddit prices IPO at top of indicated range, sources say

Social media platform Reddit priced its initial public providing on the tip of its centered fluctuate of $31 to $34 per allotment on Wednesday, constant with folks conversant in the topic.

The IPO priced at $34 a allotment, raising $748 million constant with 22 million shares sold by the corporate and its present shareholders. This infers a valuation of about $6.4 billion on Reddit.

The sources requested anonymity since the topic is confidential. Reddit did not straight acknowledge to a predict for comment.