San Francisco-based Reddit's initial public offering (IPO), under the ticker $RDDT, has attracted significant interest, with reports indicating it is between four and five times oversubscribed. This high demand suggests the social media platform is on track to achieve its targeted valuation of $6.5 billion. The company, known for holding assets in Bitcoin, Ethereum, and Polygon as per its IPO filing, aims to raise up to $748 million. A portion of the shares, specifically 8%, is reserved for Reddit's user base, highlighting its community-driven approach. The IPO is set with a price range of $31 to $34 per share, with pricing expected to occur on Wednesday and the IPO estimated for Thursday. This event is seen as a potential bellwether for other public offerings this year.