Reddit to make market debut today, seeks $6.4-billion valuation: Top facts about the 'front page of the internet'

Shares will begin trading today on the New York Stock Exchange under the ticker symbol RDDT. OpenAI CEO Sam Altman is also a major investor after he led a fundraising round about a decade ago.

The San Francisco, California-based company which priced its shares at $34 and is valued at $6 billion will be a test for the investors.

According to the regulatory disclosures required before the San Francisco company goes public, about 76 million users checked into one of Reddit's roughly 100,000 communities in December. Reddit set aside up to 1.76 million of 15.3 million shares being offered in the IPO for users of its service.

"If Reddit trades poorly, it will overshadow the IPO market. Many companies will hit pause on their IPO initiatives," said Julian Klymochko, CEO of alternative investment solutions firm Accelerate Financial Technologies as reported by Reuters.

Reddit reserved 8% of the shares on offer for eligible users and moderators, certain board members, and friends and family members of its employees and directors.

Reddit was created in 2005 and was quickly sold to Conde Nast, the publisher of Vogue and the New Yorker magazine, in an unlikely pairing. In 2011, Reddit was spun off, though Conde Nast's parent company, controlled by the Newhouse family, remains the biggest shareholder.

*With Agency Inputs