Reddit is finally going to IPO - here's what we know and don't know about the launch

Offbeat social media institution Reddit will launch as an initial public offering (IPO) on the New York Stock Exchange (NYSE) soon, likely within the next month.

It will be traded under the ticker RDDT.

The Reddit IPO has been a long time coming – rumours have swirled about the stock launch for over five years now.

But now that it’s finally happening, what do we know?

What do we know so far?

On February 22^nd, CNBC reported that Reddit had filed that day to go public on the NYSE.

Reddit will launch as an IPO on the New York Stock Exchange (NYSE) soon, likely within the next month.

It will be traded under the ticker RDDT.

The IPO launch is almost certain to be a big one when it hits. Not only would this likely be the first bog IPO launch of the 2024 year, it would also be the first social media IPO (which brought us gargantuan stock debuts like the Ant Group and Facebook) in about five long years.

What don’t we know?

First off, we don’t know the exact day that the stock will launch yet, though it is said to be very soon, likely within March.

The company also has not yet confirmed what valuation it’s seeking, although CNBC has quoted an anonymous source close to the matter as saying that the company seeks a $6.5 billion IPO, roughly the price of $32 per share.

The last social media IPO as high profile as this – Pinterest, in 2019 – launched at a valuation of $12.7 billion, or $19 per ordinary share.

Perhaps most compellingly, there’s the chance that the very community that is Reddit’s greatest asset, could turn out to be a wild card.

Will the rddt stock be turned into a meme stock? Tokenised as a meme coin? Of all company debits, this kind of thing is most likely with Reddit – although nothing is yet certain.

Read more: Kantrowitz not excited about the Reddit IPO