Reddits

Reddit shares busted out of the gate Thursday, showing an immediate gain of more than 60% as the long-awaited initial public offering finally turned the social media site into a publicly traded company.Shares opened at $47 each—and quickly jumped to $55. The question is: Can the company hold (and build upon) those gains?Reddit has warned investors that there are a number of factors that could impact its stock. It’s not a profitable company and user bases are fickle things that could disappear without a lot of warning. But…

Reddit, the launchpad for many meme stocks, could now become one: The social media giant makes its debut on Wall Street this week in one of the most highly anticipated initial public offerings of the year. The nearly 20-year-old company is seeking to raise up to $748 million in its IPO on March 21, putting its valuation at about $6.4 billion. It’s the first time that a major social media company has gone public since Snap (i.e., Snapchat) in 2017. It will sell approximately 22 million shares priced at $31 to $34 each…

Reddit said ahead of its IPO next week that licensing user posts to Google and others for AI projects could bring in $203 million of revenue over the next few years. The community-driven platform was forced to disclose Friday that US regulators already have questions about that new line of business.In a regulatory filing, Reddit said that it received a letter from the US Federal Trade Commision on Thursday asking about “our sale, licensing, or sharing of user-generated content with third parties to train AI models.”The…

The Federal Trade Commission is looking into Reddit’s AI licensing deals, the company in paperwork filed with the Securities and Exchange Commission. The company, which is in the midst of its Initial Public Offering, said that the regulator notified Reddit officials that it “intended to request information and documents” about the company’s AI deals.It’s not clear why the FTC is probing Reddit’s relatively new licensing business, but it seems to be in the early stages of its inquiry. “On March 14, 2024, we received a…

Being a Reddit user has always had its perks, but now the most loyal Redditors will get VIP passes to own part of the company. Reddit disclosed plans to launch its long-awaited IPO at up to a $6.4 billion valuation, according to a Monday filing with the SEC, and the company is reserving 8% of its shares for longtime members of the online platform.Robinhood App Lays Off 9% of Staff“Our users have a deep sense of ownership over the communities they create on Reddit,” said the company in the filing. “We want this sense of…

Like Twitter or Tiktok, Reddit is a platform built on (often fake) stories—some funny, some sad, and some scary as hell. And with anything up for grabs to turn into a TV show or movie, the scariest (and most viral) of Reddit’s horror tales are being adapted for the small screen with the upcoming series Tales From the Void. Twitter Is Shifting Right | Future TechPer Variety, streaming service Screambox will air the six-episode show later this year. Premise-wise, it’s an anthology series in the vein of the old Goosebumps TV…

Reddit disclosed on Thursday that its net loss narrowed to $90.8 million and revenue growth was roughly 21% in 2023, as the social media company made its IPO filing public in the run-up to its highly anticipated planned US stock market debut in March. The initial public offering (IPO) filing comes almost two decades after Reddit's launch and will be a major test for the platform that still lags the commercial success of social media contemporaries such as Facebook and Twitter, now known as X.Elevate Your Tech Prowess with…

After years of sitting on the sidelines, Reddit is finally moving ahead with its IPO—and some parties stand to see serious bank, while some names that you would expect to be among the beneficiaries are absent.Reddit filed its S1 with the Securities and Exchange Commission (SEC) late Thursday, giving the public the first look at its plan to go public. (The company filed privately in December 2021, but shelved the plans after the market for IPOs became choppy.) Among the information was a look at who holds how much stock.As…

Reddit cofounders Steve Huffman and Alexis Ohanian spent about eight straight years living together, initially as college room mates, playing World of Warcraft late into the night and later working together on the foundations of the discussion forums service now frequented by nearly 270 million people. But that history was missing from Reddit’s sales pitch to investors published Thursday announcing its plans to go public on the New York Stock Exchange: Reddit’s filing with the US Securities and Exchange Commission didn’t…

Last April, Reddit CEO Steve Huffman made a strategic error that, at the time, made perfect Silicon Valley sense. For years, large firms had been using freely available public data from Reddit to train their large language models. With the explosion of generative AI tools entering the market and a long-awaited IPO in the works, Huffman saw an opportunity to finally cash in on this untapped potential resource by introducing new paywalls for accessing Reddit data. But he made this decision seemingly without consideration…