Reddit, investors seek up to US$748mil in IPO

No mention: Ohanian and his wife and former tennis star, Serena Williams, pose at a film gala in Los Angeles. Co-founder of Reddit and venture capitalist Ohanian isn’t listed among the investors with stakes of 5% or more and isn’t named elsewhere in the filing. — Reuters

NEW YORK: Reddit Inc and its investors are seeking to raise as much as US$748mil in what would be one of the biggest initial public offerings (IPOs) so far this year, according to people familiar with the matter.

The social media platform and some of its current shareholders plan a sale of 22 million shares for US$31 to US$34 each, said the people, who asked not to be identified because the information wasn’t public yet.