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Reddit might IPO!

Livemint

Livemint · 1y ago

Reddit might IPO!

Reddit Inc. is reportedly in talks with potential investors for an IPO, as the market for new listings prepares to reopen. The social media company, known for its role in the meme-stock frenzy, is considering an IPO as early as the first quarter of 2024, with a potential valuation of $15 billion. Other companies, such as Rubrik Inc. and Skims, are also exploring IPO options. However, plans may change, and there is no guarantee that these companies will proceed with their listings.

Related News

Reddit files to go public — at last

TechCrunch · 1y ago

Reddit files to go public — at last

Reddit has filed for an initial public offering (IPO), making its entrance into the public markets. The company's S-1 filing shows that it earned over $800 million in revenue in 2023, but remains unprofitable. In 2022, Reddit had a net loss of $158.6 million, improving to a loss of $90.8 million in 2023. The IPO will test Reddit's valuation, which reached $10 billion in its last funding round. In a unique move, Reddit plans to reserve shares for around 75,000 of its users. Additionally, Reddit has reached a deal with Google to use its data, providing a tailwind for future revenue growth.

Reddit may be targeting a $5 billion valuation for its upcoming IPO

Business Insider

Business Insider · 1y ago

Reddit may be targeting a $5 billion valuation for its upcoming IPO

Social media platform Reddit is reportedly considering going public in an initial public offering (IPO) in the first quarter of 2024. Potential investors are advising Reddit to aim for a valuation of at least $5 billion. The success of the IPO will depend on the state of the IPO market, which has faced challenges in recent years. Reddit's current target valuation signifies a departure from the previously expected sky-high valuations.

Reddit seeks to launch IPO in March

Economic Times

Economic Times · 1y ago

Reddit seeks to launch IPO in March

According to reports, Reddit, the popular social news aggregation platform, is planning to launch an initial public offering (IPO) in March 2022. This move comes as Reddit aims to capitalize on its massive user base and increase its valuation. The IPO will likely attract significant attention, given the platform's recent notoriety and influence in various online communities.

Reddit Down: users face access issues across platforms

Economic Times

Economic Times · 9m ago

Reddit Down: users face access issues across platforms

Reddit users worldwide are facing issues accessing the platform on desktop and mobile. Error messages such as "no healthy upstream" and "upstream connect error or disconnect/reset before headers" are appearing. Reddit is yet to release an official statement on the cause of the outage, and frustrated users have taken to social media to express their concerns. Over 200 reports of Reddit being down have been recorded by the outage monitoring service, Downdetector. One user humorously speculated that the system admin might have pressed the wrong button.

Reddit targets up to $6.4 bln valuation in much-awaited US IPO

Reuters · 1y ago

Reddit targets up to $6.4 bln valuation in much-awaited US IPO

Social media platform Reddit is targeting a valuation of up to $6.4 billion in its upcoming U.S. initial public offering (IPO), with a planned sale of around 22 million shares. The IPO will test investor appetite for new listings and comes more than two years after Reddit started preparations for going public. The targeted valuation is lower than the $10 billion Reddit was valued at in 2021. The company, which hosts 100,000 online forums called "subreddits," has never turned a profit and is in the early stages of monetizing its business.

Reddit in AI content licensing deal with Google

Economic Times

Economic Times · 1y ago

Reddit in AI content licensing deal with Google

Reddit has reportedly signed a $60 million per year deal with Google to provide its content for training the search engine's AI models. The agreement comes as Reddit prepares for its highly anticipated IPO and aims to generate new revenue streams amid stiff competition from platforms like TikTok and Facebook's Meta. This deal marks Reddit's first reported partnership with a major AI company, reflecting the trend of AI models seeking diverse training data beyond web scraping. Reddit is set to file its IPO documents this week and plans to sell approximately 10% of its shares.

Reddit signs content licensing deal with AI company ahead of IPO: report

Economic Times

Economic Times · 1y ago

Reddit signs content licensing deal with AI company ahead of IPO: report

Reddit has reportedly signed a content licensing deal with an undisclosed AI company for $60 million per year. The agreement allows the AI company to train its models using Reddit's content. This deal comes as Reddit prepares for its initial public offering (IPO) and could potentially serve as a blueprint for similar contracts in the future. The specific details of the agreement may change as discussions around the IPO continue.

Reddit reveals how much karma you'll need for a chance to buy into its IPO early

Business Insider

Business Insider · 1y ago

Reddit reveals how much karma you'll need for a chance to buy into its IPO early

Reddit has outlined six tiers in its IPO paperwork that will determine which users will have the opportunity to buy its stock at the IPO price ahead of its public debut. The tiers are based on factors such as user karma and moderator actions. The first tier is reserved for users and moderators who have made significant contributions to Reddit community programs. Reddit plans to offer stock to select users in addition to larger money managers, a move that is relatively uncommon in IPOs. Up to 75,000 Redditors are expected to have access to the directed share program in March.

Reddit IPO could usher in the next big meme stock, users speculate

TechCrunch · 1y ago

Reddit IPO could usher in the next big meme stock, users speculate

Reddit, the popular social media platform, plans to go public with an IPO and is offering shares to its devoted users. In a departure from the norm, Reddit is giving priority to investors based on their amount of karma, a measure of user contribution. Users who see the potential for Reddit to become the next meme stock are considering investing. Communities like r/WallStreetBets have already had a significant impact on the stock market. However, some users are skeptical about the IPO, believing it is a ploy to profit from user loyalty without giving them free shares.

Potential 'meme stock' Reddit to raise ~$748M in IPO, will let Redditors sell shares immediately

TechCrunch · 1y ago

Potential 'meme stock' Reddit to raise ~$748M in IPO, will let Redditors sell shares immediately

Reddit is planning to go public through an IPO, and it is garnering attention not just because of its unprofitable nature, but also due to its unique approach of involving its community members in the IPO process. Reddit intends to sell around 22 million shares, potentially raising about $748 million at the top end of the price range. What makes it interesting is that Reddit is allowing its community members to immediately sell their shares, which could potentially lead to volatility and speculation similar to the GameStop stock frenzy. However, there is also the risk of Reddit's stock being manipulated, as previously witnessed with r/WallStreetBets.

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