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 ]
Fashion and beauty retailers are following in the footsteps of publishers like Conde Nast and BuzzFeed by setting up shop in Austin. The post Why fashion and beauty brands are setting their sights on Austin appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-05-04 00:00:00 UTC ]
More news stories like this
HTC has unveiled Vivepaper, an app that lets Vive users check out interactive, VR content from publishers like Conde Nast. After you don the headset and scan a physical AR booklet, you can peruse a virtual magazine and load up 360-degree videos, 3D c... Continue reading at Engadget
[ Engadget | 2016-10-28 00:00:00 UTC ]
More news stories like this
Conde Nast didn't have to go too far find talent for a new advertising campaign about creativity, called "Create. Connect. Cond Nast."On Thursday, Conde Nast kicked off the initiative with a series of short videos on social media channels in which employees from across the company's suite of... Continue reading at Advertising Age
[ Advertising Age | 2016-01-14 00:00:00 UTC ]
More news stories like this
The year in print is ending on a down note, and not just because Conde Nast's Details and Time Inc.'s All You have breathed their last. Only 96 magazines launched in 2015, a 35% drop from the prior... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2015-12-15 00:00:00 UTC ]
More news stories like this
Details magazine will cease publication after the December/January issue, Conde Nast said on Wednesday.The magazine, founded in 1982 and acquired by Conde Nast in 1988, averaged paid and verified circulation of 560,212 in the first half of the year, up from 524,791 a year earlier, according to... Continue reading at Advertising Age
[ Advertising Age | 2015-11-18 00:00:00 UTC ]
More news stories like this
What brands do young women want? Apparently a pretty steady mix, according to the third annual survey on the subject by Teen Vogue and Goldman Sachs.In a new survey of over a thousand Teen Vogue readers aged 13 to 29, gauging factors including awareness and favorability, the top 20 brands were... Continue reading at Advertising Age
[ Advertising Age | 2015-11-16 00:00:00 UTC ]
More news stories like this
The magazine industry, which has been increasingly emphasizing its digital reach, is making a new play to backstop advertising in its print editions, forging an "industry-wide" guarantee that ad pages will achieve sales results for marketers. If those results don't materialize, qualifying... Continue reading at Advertising Age
[ Advertising Age | 2015-10-13 00:00:00 UTC ]
More news stories like this
Google on Wednesday introduced a publishing platform designed to make news articles on smartphones load faster, which will compete with similar services from Facebook and Apple.Google's new project, called the "Accelerated Mobile Pages Project," is aimed at loading mobile web pages instantly... Continue reading at Advertising Age
[ Advertising Age | 2015-10-07 00:00:00 UTC ]
More news stories like this
Great audience data is the key to the marketing kingdom. That’s why Conde Nast just bought big data outfit 1010data in a deal that lets the high-end publisher plant a flag in the tech world. But even mid-sized publishers know their data is gold – and that they’ve got to have the capacities to... Continue reading at Digiday
[ Digiday | 2015-10-07 00:00:00 UTC ]
More news stories like this
Cumulus Media, the second-largest operator of U.S. radio stations behind IHeartMedia, replaced company co-founder Lew Dickey as CEO after an 84% drop in the stock price this year, naming longtime magazine publishing executive Mary Berner to replace him.Mr. Dickey will remain on the board as vice... Continue reading at Advertising Age
[ Advertising Age | 2015-09-30 00:00:00 UTC ]
More news stories like this
Conde Nast Entertainment -- the magazine publisher's digital video, TV and film division -- is looking to grow its branded entertainment business with the hire of two execs. It has tapped Starcom MediaVest Group vet Eden Gorcey and former Coach marketer Will Misselbrook to run its branded... Continue reading at Advertising Age
[ Advertising Age | 2015-09-11 00:00:00 UTC ]
More news stories like this
Apple has recruited publishers like Conde Nast and Vox Media in its quest to create the news reader to beat all news readers.Apple has signed up several new media brands to its upcoming Apple News app, which is intended as a competitor to Flipboard and other news aggregators. As Apple gears up... Continue reading at Fast Company
[ Fast Company | 2015-09-03 00:00:00 UTC ]
More news stories like this
Two of Gawker's top editors resigned Monday after management deleted a story about an executive at Conde Nast who allegedly tried to book an escort. Continue reading at Los Angeles Times
[ Los Angeles Times | 2015-07-21 00:00:00 UTC ]
More news stories like this
Media organisations including Guardian, ESPN, New York Times, Conde Nast and Hearst will produce content specifically designed for new service Apple revamped its news service on Monday, making a play to take on Facebook as the two tech giants court readers and publishers to be the top platform... Continue reading at The Guardian
[ The Guardian | 2015-06-08 00:00:00 UTC ]
More news stories like this
GroupM and Conde Nast caught a lot of people off-guard when the publisher agreed to only charge the media agency's clients for ads that were guaranteed to are entirely viewable by comsumers, a tougher stance than the industry was pushing. "I got emails from all of my peers in the industry... Continue reading at Advertising Age
[ Advertising Age | 2015-04-14 00:00:00 UTC ]
More news stories like this
When you think about Marriott, the hotel chain, chances are the first word you associate with the brand is not "publisher." And yet, the hotel company is attempting to rebrand itself as a media entity, in a move that's emblematic of a broader trend in content marketing. Marriott on Monday... Continue reading at Digiday
[ Digiday | 2015-03-25 00:00:00 UTC ]
More news stories like this
The first marketing for Apple Watch has arrived in a customary form for the brand: glossy print ads.The March issue of Conde Nast's Vogue includes 12 pages of advertising for Apple's upcoming device, set to go on sale in April. The three versions -- the leather-bound standard model, a... Continue reading at Advertising Age
[ Advertising Age | 2015-02-26 00:00:00 UTC ]
More news stories like this
Lucky magazine, the women's shopping title that was once a blockbuster success for Conde Nast, laid off about 10 staff members this week. One person with knowledge of the matter said nearly 15 employees were let go. A Lucky spokeswoman, however, put the number at "less than 10."The spokeswoman... Continue reading at Advertising Age
[ Advertising Age | 2015-02-06 00:00:00 UTC ]
More news stories like this
That didn't last long. Verizon Wireless has pulled the plug on its newest content marketing venture, a web publication called SugarString, a little over two months after it launched.The website was designed to rival tech-savvy magazines, like Wired, from Conde Nast, and Motherboard, from Vice.... Continue reading at Advertising Age
[ Advertising Age | 2014-12-03 00:00:00 UTC ]
More news stories like this
Wired magazine has tapped a male-female duo famous on Instagram for their alluring photography to anchor an ad campaign for apparel and accessories brand Victorinox. The ads are appearing on Instagram, in Wired and on Wired's website."We use to create content that would live in our magazine,"... Continue reading at Advertising Age
[ Advertising Age | 2014-11-13 00:00:00 UTC ]
More news stories like this