Reddit finally goes public, first big social IPO in years
Nearly two decades after its founding, the forum giant lists on the NYSE at a ~$6.4B valuation, buoyed by AI data-licensing deals.
Reddit priced its long-awaited IPO at $34 a share, valuing the company around $6.4 billion, and its stock jumped nearly 50% on its first day on the New York Stock Exchange. It was the first major social-media listing since Pinterest in 2019.
A new revenue line helped the pitch: Reddit had signed data-licensing agreements — most notably with Google — allowing AI companies to train models on its vast trove of human conversation. In the generative-AI era, two decades of forum posts had become a strategic asset.
The company also reserved shares for its most active users and longtime moderators, an unusual nod to the community whose unpaid labor built the platform. The debut gave the reopening IPO market a genuine consumer-tech name to rally around.
