The news source undisclosed hinted that the Reddit reservation tracker has gained significant popularity, with booking quantities exceeding up to 5 times the shares available for sale. Though a high reservation volume does not necessarily translate to a soaring stock price upon market entry, it does indicate that the company may successfully raise capital aimed at selling 22 million shares at a price range of $31-34 million. Reddit shares are distributed amongst community members, comprising 8% of the shares to be sold in this round, including subreddit moderators, some members, as well as employees and family members.
TLDR: Reddit’s reservation tracker is seeing high demand, indicating potential success in raising capital through the sale of shares.
Leave a Comment