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

Reddit's IPO will test the company's ability to find a viable business model after a tumultuous 20-year history marked by continuous losses and management upheaval.

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