Reddit has announced its first quarter 2024 financial results, the first set published since the site went public with an IPO in March this year and is being reported as a "milestone quarter."
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Reddit finally launched its long-awaited IPO today on the New York Stock Exchange at $34 a share. It started trading at $47 and ended the trading day with a share price of 50.44 a share
Reddit revealed late on Friday that the online forum is under investigation by the Federal Trade Commission over its deals to license its data to be used by generative AI companies.
A new report claims that Reddit will price its upcoming IPO at $31 to $34 a share. That means the popular community website could have a valuation of up to $6.5 billion when it starts trading.
