Reddit priced its initial public offering at $34 per share, the higher end of its expected range, valuing the social media platform at roughly $6.4 billion.
"We are exploring business opportunities in licensing data for purposes including machine learning, business analysis, display and training generative AI models," reads the filing. "And one of the things that's always been a little spicier with Reddit is the content can be not quite as advertiser friendly," he said.In a nod to Redditors, the company set aside 1.76 million shares for sale to eligible users and moderators on the platform, with no lock-up period."You may see a big run up in the stock price and a drop," he said.
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