The company priced its shares at the top of a marketed range before the start of trading on Thursday.
Reddit has priced its shares at the top of a marketed range, valuing the social media platform at $6.4bn .
People do not pay to use Reddit - the website is completely free for people to browse, post and comment. Google is believed to have paid Reddit $60m for the right to scan almost two decades of discussions to make its AI more human-like - and Reddit has said it has agreed licensing deals worth more than $200m over the next two to three years.
While the platform may have seen that coming, it may have been blindsided by a challenge from mobile phone firm Nokia, which is accusing it of infringing on its patents. "If we fail to increase or retain our user base or if user engagement declines, our business... and prospects will be harmed," it said in the filing.
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