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Reddit prices IPO at $34 per share in first major social media offering since 2019

Reddit prices IPO at $34 per share in first major social media offering since 2019

In this photo illustration a Reddit logo is seen displayed on a smartphone.

Mateusz Slodkowski | Sopa Images | Lightrocket | Getty Images

Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range.

The offering brought in $519 million, according to a

, and values the company at close to $6.5 billion. Reddit had planned to price the deal at $31 to…

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