Reddit To Offer Shares In IPO To 75,000 of Its Most Active Users

According to the Wall Street Journal (paywalled), Reddit plans to sell a chunk of its IPO shares to 75,000 of its most loyal users. Reuters reports: It aims to reserve an as-yet-undetermined number of shares for 75,000 of its most prolific so-called redditors when it goes public next month, the report said, citing people familiar with the matter.
The users will have the opportunity to buy Reddit shares at its initial public offering (IPO) price before the stock starts trading, a privilege normally reserved only for big investors, the report said. Reddit's IPO, which has been in the works for more than three years now, would be the first from a major social media company since Pinterest's debut in 2019.

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