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Al Jazeera

Technology

Social media company Reddit soars to $9bn valuation in Wall Street debut

Reddit Steve Huffman IPO San Francisco

Reddit has become the latest tech start-up to go public [Matt Slocum/AP Photo]

Shares of Reddit soared nearly 50 percent as the social media platform made its long-awaited stock market debut.

Investors pushed Reddit’s value close to $9bn after it began trading on the New York Stock Exchange on Thursday, with the company’s share price peaking at $57.80 before closing at $50.44.

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