Reddit Is Said to Target Up to $6.5 Billion Valuation in IPO (2)

Reddit Inc. is eyeing a valuation of as much as $6.5 billion in its initial public offering, according to people familiar with the matter.

The social media company plans to target a price range of $31 to $34 per share in the first-time share sale, the people said, asking not to be identified because the information is private.

At that price range, Reddit would have a fully diluted value of about $6 billion to $6.5 billion, the people said. The company plans to being marketing the shares to potential investors on March 11, they added.

Reddit is also planning to ...