(CNBC) Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range. The offering brought in $519 million, and values the company at close to $6.5 billion. Reddit had planned to price the deal at $31 to $34 a share. Reddit’s public market debut on Thursday, under ticker symbol “RDDT,” will be the first for a major social media company since Pinterest’s debut in 2019 and one of the very few venture-backed tech deals of the past two years.
Reddit prices IPO at $34 per share in first major social media offering since 2019
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