Reddit is in search of a valuation of as much as $6.5 billion | EUROtoday

DAccording to an professional within the matter, the Internet discussion board Reddit is aiming for a valuation of as much as $6.5 billion for its IPO. The American firm hopes to realize a value vary of $31 to $34 per share when it enters the buying and selling ground, an individual accustomed to the matter stated on Friday. The Wall Street Journal (WSJ) had beforehand reported on it.

With the focused $6.5 billion, the corporate can be price considerably lower than it was just a few years in the past. Founded in 2005 and primarily based in San Francisco, the corporate was valued at $10 billion in a 2021 funding spherical. There was no instant remark from Reddit.

The Internet Forum formally introduced the long-awaited IPO two weeks in the past. In the submitting for its IPO in March, the corporate reported a lack of $90.8 million for the previous fiscal 12 months. Sales climbed by a fifth to $804 million.