Reddit aims to raise $748 million in planned IPO, Bloomberg News says

FILE PHOTO: Reddit logo is seen in this illustration taken November 7, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Media platform Reddit and its investors are seeking to raise as much as $748 million in its initial public offering, Bloomberg News reported on Sunday.

The company is planning a sale of 22 million shares at $31-$34 per share, Bloomberg reported, citing people familiar with the matter.

(Reporting by Chandni Shah in Bengaluru, editing by Deepa Babington)