The company priced its shares at the top of a marketed range before the start of trading on Thursday...
Reddit has priced its shares at the top of a marketed range, valuing the social media platform at $6.4bn.It has raised $748m as it sells 22 million shares for $34 each, making it one of the biggest initial public offerings by a social media firm.
People do not pay to use Reddit - the website is completely free for people to browse, post and comment.
For 20 years it couldn't turn a profit, and some might ask why Reddit is worth billions if it has not ever made money.
Google is believed to have paid Reddit $60m for the right to scan almost two decades of discussions to make its AI more human-like - and Reddit has said it has agreed licensing deals worth more than $200m over the next two to three years.
In February, Reddit said it lost $90.8m in 2023, so the money from artificial intelligence firms could make the platform profitable.
The US Federal Trade Commission is already looking into how Reddit licences its data for AI models - generally speaking, regulators don't like it when big technology firms sell data generated by users.
"We will evaluate their claims," Reddit said, adding that it's faced similar accusations in the past.
Despite growing discontent, threats to leave the platform - such as the blackout that rendered much of Reddit unusable in 2023 - have often proved short-lived.
Reddit users say share plans 'beginning of the end'.
Reddit aims for $6.4bn valuation in shares sale.