Reddit seeks $6.4 billion in value prior to its initial public offering.

The social networking startup, which has never turned a profit, will list its shares on the New York Stock Exchange.

According to a US filing, Reddit and its investors plan to sell 22 million shares for $31 to $34 each.

However, many users are concerned that the move will fundamentally alter the website.

Some shares will be allocated for specific Reddit users and moderators.

The company is considering an initial public offering (IPO), in which some of its shares will be made accessible to the public for the first time.