Reddit's IPO Opens Doors for Users to Become Shareholders

Reddit is preparing for an initial public offering to sell shares to the public, valuing the company up to $6.4 billion. Reddit plans to sell 22 million shares priced between $31 and $34 each, raising $473.6 to $519.4 million. Existing investors will also sell additional shares, raising $208.4 to $228.6 million. Reddit will sell up to 1.76 million shares to moderators, Redditors, and board members with no lock-up period. This could lead to volatility as user shares are not restricted from immediate sale. Users, as of January 2024, can participate, with "karma" and moderator actions determining tiers.