The post Reddit IPO To Go Live Today! REDDIT Coin Surge by 70% appeared first on Coinpedia Fintech News
Popular social media platform Reddit, the 17th most visited website in the world is gearing up for an initial public offering (IPO) on the New York Stock Exchange, at a valuation of $6.5 billion. Meanwhile, the company’s unrelated cryptocurrency, REDDIT, saw an impressive 70% increase, trading at $0.01004.
Reddit’s IPO Launch
Known for its diverse features and active communities, Reddit announced its IPO, marking a milestone in its nearly two-decade history. The company’s decision to go public takes considerable preparation back after 2021 and is ready to capitalize on the widest range of user base and stakeholders.
Although, the stock is priced at $34 per share, and Reddit’s IPO valuation of $6.5 billion reflects investor confidence despite falling short of an initial target of $10 billion by 2021.
However, the IPO represents an opportunity for Reddit to capit
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