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Reddit prepares to go public

Reddit, the San Francisco-based social media platform, is reportedly considering a valuation of at least $5 billion for its initial public offering (IPO). This valuation is down from its reported $20 billion valuation in 2022. Private trades of Reddit's unlisted shares have valued the company at $4.8 billion or lower. The company has more than 70 million daily active unique visitors and more than 100,000 active communities.

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