Reddit is now a publicly traded company

Nineteen years after its debut, Reddit is now a publicly traded company. It was listed on the New York Stock Exchange as RDDT for the first time on Thursday, with mascot Snoo on hand to ring the opening bell. The company aimed to sell 15.3 million shares at $34 a pop to raise around $519.4 million. Stockholders collectively planned to sell 6.7 million shares in the IPO for a total of $228.6 million (Reddit itself wouldn't see any of that money though). The IPO price values Reddit at just under $6.5 billion. The sale’s underwriters also have the option to buy 3.3 million shares at the IPO price over the next 30 days. So if the stock soars over the next few weeks, the underwriters can pick up shares relatively cheaply. If all those sell, Reddit will pull in another $112.2 million or so. One other interesting aspect of Reddit going public is that it invited long-term users in good standing the chance to snap up shares at the IPO pricing over the last few weeks. It’s been a long road for Reddit to go public, and it’s doing so long after many of its peers (the last major social media IPO was Pinterest back in 2019). Conde Nast bought Reddit in 2006, just over a year after the platform went live, and spun it back out as an independent subsidiary in 2011. Reddit first filed for an IPO in 2021. The company has had plenty of controversies to address during its run. Last year, users protested against the company's decision to start charging for API access, effectively killing some... Continue reading at 'Engadget'

[ Engadget | 2024-03-21 14:44:55 UTC ]
News tagged with: #opening bell #stock soars #interesting aspect #good standing #independent subsidiary #start charging #api access #effectively killing #third-party apps #s-1 filing #engagement declines #financial condition #ai models #user-generated content #conde nast

Other news stories related to: "Reddit is now a publicly traded company"

Reddit is now a publicly traded company

Nineteen years after its debut, Reddit is now a publicly traded company. It was listed on the New York Stock Exchange as RDDT for the first time on Thursday, with mascot Snoo on hand to ring the opening bell. The company aimed to sell 15.3 million shares at $34 a pop to raise around $519.4... Continue reading at Engadget

[ Engadget | 2024-03-21 14:44:55 UTC ]
More news stories like this | News stories tagged with: #conde nast #user-generated content #ai models #third-party apps

Nielsen Is the Latest Company to Join The Trade Desk’s Cookie-less Unified ID 2.0

The Trade Desk today announced that Nielsen has signed on as a collaborator on its Unified ID 2.0, a cookie-less, open-source sign-on solution for the open web. This marks the third such deal within a week, as LiveRamp and Criteo just pledged their respective support for The Trade Desk's... Continue reading at AdWeek

[ AdWeek | 2020-11-02 18:23:42 UTC ]
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The Mainstreet Trading Company triumphs as Britain’s Best Small Shop of 2018

An independent bookshop, The Mainstreet Trading Company’s Bookshop & Café, has been named Britain’s Best Small Shop of 2018. Continue reading at The Bookseller

[ The Bookseller | 2018-11-14 00:00:00 UTC ]
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Former PRH publicity director Finnigan launches own company

Emma Finnigan, previously William Heinemann and Windmill publicity director at Penguin Random House, has launched her own PR agency: Emma Finnigan PR.    Continue reading at The Bookseller

[ The Bookseller | 2016-09-27 00:00:00 UTC ]
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Yes, That Is a Cat on the Head of a Soon-to-Be Public Company CEO (And, Of Course, It's Groupon's Andrew Mason)

Do you think Zynga's Mark Pincus would put a cat on his head for a national magazine shoot? Or LinkedIn's Jeff Weiner? Or, perish the thought, Mark Zuckerberg of Facebook? But the wacky stylings of Groupon CEO and Co-founder Andrew Mason seem to demand it. Continue reading at AllThingsD

[ AllThingsD | 2011-07-06 00:00:00 UTC ]
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Every company must be a tech company first and a media company second

To control the fate of your business, resist the temptation to grow dependent on the many intermediaries who’d like to sit between you and your customers. Search the phrase “every company is a media company” and you’ll get a litany of articles and posts from social media influencers about how... Continue reading at Fast Company

[ Fast Company | 2021-05-07 07:00:25 UTC ]
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Brave Books, Kirk Cameron Plan Public Library Events August 5; Public Libraries Need to Prepare

Kirk Cameron is encouraging a national story time event in US public libraries August 5. Here's what library workers need to know. Continue reading at Book Riot

[ Book Riot | 2023-06-05 10:37:00 UTC ]
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Demolishing Public Libraries From The Inside: Niles Public Library Is a Warning

The Niles-Maine Public Library in suburban Chicago is being destroyed from the inside by politically-conservative Board officials. Continue reading at Book Riot

[ Book Riot | 2021-07-15 10:40:00 UTC ]
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Navigate360, a security-services company, buys Social Sentinel, a threat-detection company

Social Sentinel technology scans and analyzes digital content to identify potential safety and security threats, according to Richfield-based Navigate360. Continue reading at Silicon Valley Business Journal

[ Silicon Valley Business Journal | 2020-10-27 16:39:45 UTC ]
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Dover Publications Looks Beyond The Public Domain

Dover will add royalty-paying titles to its large and historically successful catalog of public-domain based works. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-01-15 00:00:00 UTC ]
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Oahu Publications, Inc. Launches New Publication

Oahu Publications, Inc. (OPI), publisher of the Honolulu Star-Advertiser, is launching a new publication called Metro on Oct. 1. The edgy and visually stimulating free community newspaper will be distributed weekly to downtown Honolulu, Nu?uanu, Kaka ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2014-09-25 00:00:00 UTC ]
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Are You a Media Company or a Technology Company?

Let’s start with two truths. First, publishers need cutting-edge technology to hook an audience through today’s digital media channels of the Web, mobile, social, and search. And, second, the breakthrough technology can’t just be about product design -- it’s got to go beyond to create... Continue reading at AllThingsD

[ AllThingsD | 2011-09-02 00:00:00 UTC ]
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Revenue is up across our list of New York's largest privately held companies

Crain’s exclusive list of the largest privately held companies in New York is back, featuring 100 businesses ranked by 2023 revenue.On average, these companies saw revenue jump 15% from 2022 to 2023. Last year’s median revenue likewise increased about 15%, up to nearly $660 million.Combined,... Continue reading at Crains New York

[ Crains New York | 2024-11-18 11:03:10 UTC ]
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Book Publicity Is a Call to Action for Bev Rivero

The senior publicist at the New Press finds working for an indie press with a social justice focus particularly rewarding professionally, politically, and personally. Continue reading at Publishers Weekly

[ Publishers Weekly | 2024-11-15 05:00:00 UTC ]
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SIBA, NAIBA Joint Trade Show Will Move to Atlanta in 2025

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[ Publishers Weekly | 2024-11-15 05:00:00 UTC ]
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Save Public Libraries and Schools By Voting Down-Ballot: Book Censorship News, October 25, 2024

You have a role in saving public libraries and schools by voting. Here's where, how, and why you need to learn about your down-ballot candidates and initiatives. That, plus this week's book censorship news. Continue reading at Book Riot

[ Book Riot | 2024-10-25 12:30:00 UTC ]
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Anne Applebaum: The German Book Trade’s Peace Prize

The winner of the Peace Prize of the German Book Trade, Anne Applebaum, tells her audience, 'Don't let skepticism decline into nihilism.' The post Anne Applebaum: The German Book Trade’s Peace Prize appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2024-10-24 17:33:29 UTC ]
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Publishers Sign Petition Condemning ‘Theft’ by AI Companies

Technology collaborations "are a key part of publishing," said AAP president and CEO Maria Pallante, in a statement on the petition, "but they are built on lawful licenses and respect, not a land grab.” Continue reading at Publishers Weekly

[ Publishers Weekly | 2024-10-23 04:00:00 UTC ]
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Penguin Random House Moves to Prohibit AI Companies From Using Its Books

PRH will add language to its copyright pages prohibiting AI companies from data mining, John Grisham accuse of poaching material, and more. Continue reading at Book Riot

[ Book Riot | 2024-10-21 15:00:00 UTC ]
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Bye, Kindle: 3 companies whose e-readers have actual buttons

These Amazon Kindle alternatives have terrifically tactile physical buttons for turning pages. Boy, is my wife mad at Amazon for killing off the wonderful Oasis line of premium Kindle e-book readers. I, too, am upset—she’s due for an upgrade and the holidays are right around the corner. Continue reading at Fast Company

[ Fast Company | 2024-10-20 04:30:00 UTC ]
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