Reddit's long-awaited IPO is targeting a $6.4 billion valuation

• Reddit is targeting a $6.4 billion valuation for its IPO this year.
• The company and its investors are planning to sell 22 million shares, with a pricing range of $31 to $34.
• At the top end of the valuation range, the offering would raise $748 million.

The social-media platform Reddit has announced more details for what's expected to be one of the biggest initial public offerings of the year.