Reddit, the popular social media platform known for its wide-ranging discussions and diverse user base, is set to enter a new era as a publicly traded company with a market value of $6.4 billion. The company's initial public offering was priced at $34 per share, at the top end of the target range set by Reddit's investment bankers after weeks of gauging investor demand.

The stage is now set for Reddit's shares to begin trading on the New York Stock Exchange under the ticker symbol “RDDT” on Thursday. The IPO, which raised about $748 million, includes about $228 million for Reddit shareholders who chose to sell some of their stock. Another $519 million is earmarked for Reddit itself, although the company will not receive all of that money due to commissions and other associated costs.

Despite its large and dedicated user base, Reddit has struggled to turn a profit, accumulating cumulative losses of $717 million. However, the company has recently focused on finding new ways to boost revenue, and the influx of funds from the IPO will allow Reddit to finance its ambitions to expand its influence and increase revenue.

Compared to other tech giants like Meta Platforms, which boasts a market value of over $1.2 trillion and annual revenue of $135 billion, Reddit remains relatively small. However, the company's unique platform and engaged user base have attracted significant interest from both individual investors and institutional investors alike.

As Reddit prepares to make its debut on the stock market, the company's IPO is likely to spark a flurry of commentary on its own platform and other social media outlets. With its newfound funding, Reddit is poised to continue growing and evolving in the ever-changing landscape of social media and technology.