Reddit targets valuation of close to $6.5 billion in upcoming IPO

Reddit, the social media company known for hosting web forums on topics from the mainstream to the extremely obscure, aims to raise up to $748 million in its upcoming IPO at a valuation of close to $6.5 billion.

The company plans to sell about 22 million shares at a range of $31 to $34 per share, according to a

released Monday. The projected market cap reflects a fully-diluted share count, not just the shares that will immediately be…