Reddit IPO sees 4-5x oversubscription, eyes $6.5 billion valuation
Edited By WION Video Desk
Published: Mar 18, 2024, 06:25 IST | Updated: Mar 18, 2024, 06:25 IST
Social media platform reddit is experiencing a surge of investor interest ahead of its initial public offering. Early reports indicate the IPO is oversubscribed by a factor of four to five, meaning demand for shares significantly outstrips the available supply. This strong interest could push reddit's valuation to its target of $6.5 billion, despite the company not yet turning a profit.
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