Reddit is preparing to sell shares to the public. Here’s what you need to know

By DAVID HAMILTON
AP Business Writer

SAN FRANCISCO (AP) — Reddit, that vast, lively and sometimes chaotic repository of internet discussion, said that its pending initial public offering may be worth almost three quarters of a billion dollars. It’s a pretty significant valuation for a company whose largely text-based service straddles the line between social media and older online message boards. Reddit is also allocating some IPO shares to its users, a move the company describes as a way to pay back the people who have made the platform successful. But offering stock to these “Redditors” carries its own risks since they won’t be bound by the lockup provisions that prevent other “insider” shareholders from selling shares immediately.