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Those shares were equivalent to 61.5% of the share class, based on a calculation that includes factors such as the right to acquire more shares by exercising stock options and the conversion of Class B shares into Class A shares, according to the filing.
Reddit: Those shares were equivalent to 61.5% of the share class, based on a calculation that includes factors such as the right to acquire more shares by exercising stock options and the conversion of Class B shares into Class A shares, according to the filing.
Reddit IPO: At the top of that range, Reddit - whose users helped create the meme stock frenzy of 2021 - would have a market value of $5.4 billion, based on an expected nearly 159 million shares outstanding. Fully diluted to include employee stock options and restricted share units, its valuation would be about $6.4 billion, the filing with the US SEC shows.
The niche social network can be valuable to advertisers, but spending needs to come down.
The IPO, a major litmus test for investors' appetite for new listings, will come more than two years after the company began preparations to go public. So far this year, the IPO market recovery has been uneven.