Reddit Says Nokia Accused the Social-Media Site of Patent Infringement
By Will Feuer
Social-media platform Reddit said it received a letter from Nokia Technologies accusing it of infringing on its patents.
Reddit disclosed the allegation in an amendment to its documents related to its initial public offering.
"We will evaluate their claims," Reddit said in a regulatory filing.
Reddit is expected to make its stock-market debut later this week, a closely watched IPO in a sluggish market for new offerings.
Reddit said it is seeking to raise as much as $748 million. The company is aiming for a valuation of up to $6.4 billion, down from $10 billion based on an August 2021 fundraising round.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
March 19, 2024 07:13 ET (11:13 GMT)
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