Social media company Reddit is planning to price its initial public offering (IPO) at $31 to $34 per share, the Wall Street Journal reported on Friday, citing people familiar with the matter.
According to the report, the target pricing range would value the company at $6 billion to $6.5 billion, which marks a decline from $10 billion it was estimated to be worth in 2021.
Reddit publicly filed for an IPO in February and media reports said that it is planning to allocate a significant portion of its IPO shares to the platform's 75,000 most active users.
