Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies.
IDK, Musk bought Twitter for $40B, which is also a chronically unprofitable, niche social media platform in a crowded field. Not saying that was a good price either, just establishing precedent.