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- Reddit (RDDT) is looking to raise up to $748M in its initial public offering, Bloomberg reported.
- The company would sell 22M shares in the range of $31 to $34 per share, Bloomberg said, citing people familiar with the matter. The social media company is looking for a a valuation of up to $6.5B.
- Reddit is setting aside 1.76M shares to be bought by users and moderators who activated accounts before Jan. 1, the report said.
- Those shares would not be subject to a lockup period.