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 ]
Even as Snapchat Discover has become more crowded and other publishers like The New York Times have pulled their channels, Conde Nast is invested in Snap. The post Conde Nast now has 28 shows on Snapchat, with plans for more appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-04-11 00:00:00 UTC ]
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The former physicist has experience with building new businesses, paring down struggling ones and rallying troops. His new job will require all three. The post ‘The Cleaner’: Conde Nast’s new level-headed leader is a publishing newcomer appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-04-05 00:00:00 UTC ]
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Covered: Influential music site Pitchfork, which was acquired by publishing conglomerate Cond Nast in 2015, flexed its cultural muscle last night by hosting a party to celebrate its first digital cover, featuring singer-songwriter-model-actress Sky Ferreira. The animated coverone is planned each... Continue reading at Advertising Age
[ Advertising Age | 2019-03-29 00:00:00 UTC ]
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Publishers in the new Facebook-funded program include BuzzFeed, Conde Nast and Viacom. The post Facebook is paying 12 publishers for Watch shows starring video creators appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-03-12 00:00:00 UTC ]
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The upheaval at Conde Nast has taken a new turn. Robert Sauerberg, who has effectively led the storied magazine publisher since 2010, is stepping down, as parent company Advance Publications plans to... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2018-11-27 00:00:00 UTC ]
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Conde Nast's latest sales reorg points to the fact that legacy media is still wrestling with what the best approach to go to market is as spending moves digital. The post ‘Struggling with the right solution to a thorny problem’: In a platform era, magazines struggle to right their ad sales... Continue reading at Digiday
[ Digiday | 2018-10-25 00:00:00 UTC ]
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The magazine publisher will be competing with entertainment conglomerates, consulting firms and ad agencies for new revenue. The post Conde Nast’s turnaround plan faces hurdles appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-08-14 00:00:00 UTC ]
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The magazine's publisher, Conde Nast, say Wintour remains "integral" amid rumours of her departure. Continue reading at BBC News
[ BBC News | 2018-08-01 00:00:00 UTC ]
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Four trade groups representing publishers such as Axel Springer, Bloomberg, Conde Nast, Hearst and the Guardian released a letter Monday addressed to Google CEO Sundar Pichai that sharply criticizes the company's approach to publishers as strict new privacy rules loom in Europe.The trade... Continue reading at Advertising Age
[ Advertising Age | 2018-04-30 00:00:00 UTC ]
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Penny Scott-Bayfield, current finance director of Conde Nast, will be joining the Bloomsbury board as group finance director. Continue reading at The Bookseller
[ The Bookseller | 2018-04-20 00:00:00 UTC ]
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The departures come at a particularly challenging time for the embattled prestige magazine publisher. The post Conde Nast’s digital leadership ranks thin with recent exec departures appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-04-10 00:00:00 UTC ]
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The deal was an example of how publishers are leaning on each other to grow their share of the digital ad pie that’s increasingly going to the tech giants. The post Conde Nast is out of its sales partnership with NBCU and Vox Media appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-03-19 00:00:00 UTC ]
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It's that time of year again: TV networks and digital publishers will begin making their annual pitches to media buyers and marketers in an arms race to snag dollars for next season.Viacom-owned Nickelodeon will kick things off in March, followed by Hallmark Channel parent Crown Media.... Continue reading at Advertising Age
[ Advertising Age | 2018-02-14 00:00:00 UTC ]
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AMP Stories. Credit: GoogleGoogle has launched AMP Stories, a feature that lets publishers create content similiar to Instagram Stories, but for mobile websites.AMP, short for Accelerated Mobile Page, loads content extremely fast. The open-source project was led by Google roughly two years ago,... Continue reading at Advertising Age
[ Advertising Age | 2018-02-13 00:00:00 UTC ]
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Fred Santarpia, Conde Nast's chief digital officer, discussed the publishing giant's paywall strategy, e-commerce plans and more. The post More paywalls are ‘highly likely’: A Digiday+ Slack town hall with Conde Nast’s Fred Santarpia appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-02-02 00:00:00 UTC ]
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Internet giants such as Facebook and Twitter have limited legal obligations, but what could Britain do to make them act?Hosts, not publishers?Currently, social media firms including Facebook, YouTube and Twitter operate as hosts, rather than publishers, in the UK. As such, they are exempt from... Continue reading at The Guardian
[ The Guardian | 2017-12-13 00:00:00 UTC ]
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The New York Times, Conde Nast and Time Inc. have hired talent from e-commerce and retail companies for their consumer marketing skills. The post In the hunt for consumer revenue, publishers are hiring e-commerce marketing veterans appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-11-02 00:00:00 UTC ]
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As sexual harassment accusations sweep through many industries, the selection of a new editor has become a prism through which to read a changing landscapeThe publishing industry guessing game over who will assume Vanity Fair’s leadership role from long-serving superstar editor Graydon Carter... Continue reading at The Guardian
[ The Guardian | 2017-10-28 00:00:00 UTC ]
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With ad revenue challenging, magazine publishers including Time Inc. and Conde Nast are doubling down on brand licensing. The post Why Time, Conde Nast and other magazine publishers are charging into brand licensing appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-06-13 00:00:00 UTC ]
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Anheuser-Busch InBev has quietly moved into the digital publishing business with a series of investments in websites that cover beer culture and the rising craft beer industry. But the slow move by the nation's largest brewer into the editorial business is raising conflict-of-interest questions... Continue reading at Advertising Age
[ Advertising Age | 2017-06-07 00:00:00 UTC ]
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