https://apnews.com/article/reddit-ipo-going-public-employee-shares-redditors-838bb2834d896bc0152be60442f362fb

SAN FRANCISCO (AP) — Reddit, that vast, lively and sometimes chaotic repository of internet discussion, projected Monday a price for its initial public offering stock that values the 18-year-old social media platform at up to $6.4 billion.

The offering also makes Reddit one of the first online companies to offer shares to its contributors — the “Redditors” who comment on its boards and the moderators who manage them. That's a break with traditional IPO practice, in which initial shares are typically sold to institutional investors and fund managers who then begin trading the stock on the open market. Adding the company's users to the mix could make for a much livelier offering, and not necessarily in a good way.