Reddit set for hotly anticipated debut after pricing IPO at top of range

- Social media platform Reddit geared up for its high-profile market debut on the New York Stock Exchange on Thursday, setting the stage for other companies looking to go public this year, while testing investor appetite for new issues.

As part of its plan to reward its user base, Reddit reserved 8% of the shares on offer for eligible users and moderators, certain board members, and friends and family members of its employees and directors. Huffman himself turned to one of the subreddits for help to quit drinking, he wrote in his letter. Former U.S. President Barack Obama also did an "AMA" , internet lingo for an interview, with the site's users in 2012.

The company has said it was "in the early stages of monetizing business" and is yet to turn an annual profit. Analysts say investors will be scrutinizing its roadmap to profitability.

Source: News Formal (newsformal.com)

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