Reddit Inc. and its investors are preparing for a substantial initial public offering (IPO), aiming to raise up to $748 million, making it one of the largest IPOs this year. The proposed IPO involves the sale of 22 million shares priced between $31 and $34 each, with Reddit targeting a valuation of up to $6.5 billion. A notable aspect of Reddit's IPO plan is the allocation of approximately 1.76 million shares for purchase by users and moderators who created accounts before January 1.

These shares won't be subject to a lockup period, allowing owners to sell them on the opening day of trading. The move to go public reflects Reddit's journey in the market, characterized by market fluctuations and evolving valuation estimations. From its initial confidential filing in 2021 to raising funds valuing it at $10 billion and subsequent speculations of a $15 billion valuation, Reddit's trajectory mirrors broader trends in the IPO landscape.