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 ]
The digital media company Conde Nast laid off a number of its top executives, along with key events, social media, and editorial staff, in a targeted round of cuts Thursday evening, according to interviews with four current and former staff. A representative for the... Continue reading at AdWeek
[ AdWeek | 2024-12-05 23:23:59 UTC ]
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It seems that The New Yorker Festival may be picket-free this year. The magazine's union and management at Conde Nast reached a new tentative three-year agreement, the company's human resources department told staffers Monday. (THR) Continue reading at AdWeek
[ AdWeek | 2024-10-15 11:54:00 UTC ]
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More than three years ago, The New Yorker's unionized employees authorized and threatened a strike during a contentious first contract negotiation that culminated with scores of protestors descending on the Greenwich Village home of Conde Nast executive Anna Wintour days... Continue reading at AdWeek
[ AdWeek | 2024-10-04 11:54:00 UTC ]
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Publisher frustration is mounting at AI search startup Perplexity, which is backed by Jeff Bezos and other tech titans, for circumventing attempts to block its crawlers from accessing and serving up media content, potentially cutting publishers out of billions in ad... Continue reading at AdWeek
[ AdWeek | 2024-06-21 17:04:46 UTC ]
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Last month, TheNew York Times claimed that tech giants OpenAI and Google have waded into a copyright gray area by transcribing the vast volume of YouTube videos and using that text as additional training data for their AI models despite terms of service that prohibit such efforts and copyright... Continue reading at O'Reilly Radar
[ O'Reilly Radar | 2024-06-18 12:58:16 UTC ]
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Deal lets ChatGPT maker use all articles from Wall Street Journal, New York Post, Times and Sunday Times for AI model developmentChatGPT developer OpenAI has signed a deal to bring news content from the Wall Street Journal, the New York Post, the Times and the Sunday Times to the artificial... Continue reading at The Guardian
[ The Guardian | 2024-05-22 21:39:09 UTC ]
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Conde Nast chief revenue officer Pamela Drucker Mann announced her departure from the media company this morning, according to an internal memo shared by the company. Mann, who joined Conde Nast as the sales director for beauty at Jane magazine in 2005, has served as the... Continue reading at AdWeek
[ AdWeek | 2024-05-14 17:00:24 UTC ]
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Digital media company Conde Nast unveiled a slate of new video programming at its NewFront presentation at Highline Stages in New York this morning, emphasizing its expanded efforts in the world of sports, news and live events. The company, which houses more than a dozen... Continue reading at AdWeek
[ AdWeek | 2024-04-30 18:00:00 UTC ]
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This afternoon, ADWEEK CEO Will Lee announced the appointment of Conde Nast veteran Mike Beyman as chief of staff/head of strategy and business operations, a new role at the brand. In a memo, Lee also shared a number of promotions across the newsroom as well as the... Continue reading at AdWeek
[ AdWeek | 2024-03-27 21:00:35 UTC ]
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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 ]
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Adweek, the leading source of news, insights and intelligence for the marketing and advertising industry, today announced it has hired former Vice President and General Manager of People, Zoe Ruderman as Chief Content Officer and Drew Schutte, former executive at Conde Nast titles The New... Continue reading at AdWeek
[ AdWeek | 2023-11-30 19:30:00 UTC ]
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New podcast Stiffed investigates the forgotten story of Viva, a progressive magazine for women that featured Anna Wintour on staffBack in the mid-aughts, right before the internet made Play-Doh spaghetti of the magazine industry, Jennifer Romolini was an editor at Lucky, a Conde Nast property... Continue reading at The Guardian
[ The Guardian | 2023-04-03 18:24:51 UTC ]
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Twitter’s ad business is reeling, with its daily revenue reportedly falling by 40 percent from a year ago. According to The Information, over 500 of the company’s top advertisers have paused spending on the platform since Elon Musk’s October takeover. Despite that, Twitter is still attracting... Continue reading at Engadget
[ Engadget | 2023-01-18 18:54:25 UTC ]
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Former Conde Nast space gets another sublet, and Black Spruce closes on a Midtown East apartment building Continue reading at Crains New York
[ Crains New York | 2022-09-30 17:10:40 UTC ]
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The US online storytelling subsidiary of China's COL Digital Publishing Group announces gamification techniques for user-generated content. The post ChineseALL USA’s ‘Crazy Maple Studio’ Opens a ‘Gamification Platform’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2021-08-16 22:46:28 UTC ]
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Recently, Cathy Merrill, the chief executive of The Washingtonian, published an op-ed on “the risks of not returning to work in the office” as the pandemic abates. If employees aren’t around to participate in “extras” (birthday parties, answering questions in person), she argued, “management has... Continue reading at Columbia Journalism Review
[ Columbia Journalism Review | 2021-05-21 12:00:25 UTC ]
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With a new Black editor in chief and ambitious promises to do better, a little corner of the Conde Nast universe is taking racial and cultural injustice one recipe at a time Continue reading at ABC News
[ ABC News | 2020-12-24 18:32:00 UTC ]
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Conde Nast has greenlit a half-dozen series for IGTV designed to anchor ad programs that will sew many different Facebook ad products together at once. The post How Conde Nast plans to make money from Instagram TV appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-11-18 05:01:31 UTC ]
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A month after longtime AMC Networks ad sales executive Scott Collins parted ways with the home of “The Walking Dead” and “Killing Eve,” the cable programmer has tapped a mainstay from the magazine world to oversee its linear TV and digital inventory. AMC this afternoon announced that it has... Continue reading at Advertising Age
[ Advertising Age | 2019-09-03 23:26:31 UTC ]
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Microsoft appears to have pulled Huawei's Matebook X Pro from its online shelves, and Best Buy, too, has followed suit. Huawei phones and devices are still available from Amazon and Newegg as of this posting, however.Neither the Huawei Matebook X Pro nor the Huawei Matebook 13 appear on... Continue reading at PC World
[ PC World | 2019-05-21 19:24:00 UTC ]
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