Reddit’s biggest risk ahead of its IPO is its own users
Reddit, the launchpad for many meme stocks, could now become one: The social media giant makes its debut on Wall Street this week in one of the most highly anticipated initial public offerings of the year.
The nearly 20-year-old company is seeking to raise up to $748 million in its IPO on March 21, putting its valuation at about $6.4 billion. It’s the first time that a major social media company has gone public since Snap (i.e., Snapchat) in 2017.
It will sell approximately 22 million shares priced at $31 to $34 each…