So, word on the street (and by street, I mean the high-finance corridors of Wall Street) is that Reddit’s going public, and peeps are clamoring for a piece of the pie. The inside scoop? Reddit’s IPO is racking up interest like it’s the front page of the internet, hitting somewhere between four and five times oversubscribed. That’s what the folks in the know are whispering, anyway.
This mad dash doesn’t mean Reddit’s gonna be the belle of the ball once the stock starts trading, but it’s looking like a sure bet they’ll hit that sweet spot of $31 to $34 per share when the bell rings on Wednesday. But hey, keep it on the DL; these tipsters wanna stay in the shadows ’cause this chatter’s hush-hush.
The Reddit bigwigs are playing coy, zipping their lips on the deets. And who can blame ’em? They’ve already had to dial back those dollar dreams from a cool $10 billion valuation back in the day. Now, they’re hoping to bag up to $748 million from this shindig.
Let’s not sugarcoat it, though—Reddit’s been bleeding green since day one. And while the die-hard Redditors are sticking like glue, it’s not exactly been printing money like its pals Facebook and the artist formerly known as Twitter (now strutting as X).
The platform’s a bit of a Wild West show, with users diving deep into everything from adorable cat vids to brain-bending cosmic chit-chat. That’s all fine and dandy until the ad dollars come into play—some big spenders are side-eyeing Reddit’s laissez-faire vibe.
Mods, those unsung heroes running the subreddit show, can bounce at the drop of a hat. Like that time a bunch said “peace out” to protest Reddit charging the tech whizzes behind third-party apps for a peek at its precious data.
Despite the drama, Reddit’s got its claim to fame with the “meme-stock” frenzy, when the average Joes and Janes of “wallstreetbets” took on the suits and sent GameStop’s stock to the moon. So, as the IPO clock ticks, we’re all wondering if Reddit’s about to have its own rocket moment or if it’s just another flash in the pan.
