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IPO Details

Reddit (RDDT) is set to go public on March 21st. The company is aiming for a $6.5 billion valuation and plans to raise up to $748 million.

Stock Price and Shares

Reddit will be selling 22 million shares at an expected price of $32.50 per share.

Redditors Getting the Stock

Around 1.76 million shares have been set aside for Redditors who created accounts before January 1, 2024. These users will have the opportunity to buy shares at the initial offering price.

Early Access for Select Users

Some Reddit users, moderators, and employees’ friends and family have been given early access to buy shares. These users were selected based on their activity and contributions to the platform.

Redditors’ Concerns

Many Redditors are not enthusiastic about the IPO. They believe that the company is trying to monetize the platform too much and that it has damaged the user experience.

Relationship with Moderators

Reddit’s relationship with its volunteer moderators is strained. The company’s decision to give moderators early access to the IPO is seen as an attempt to appease them.

User Sentiment

Despite the early access for some users, many Redditors are not interested in buying the stock. They believe that the company has lost its way and that the IPO is a sign of desperation.