Social media platform Reddit is targeting a $6.5 billion valuation in its highly anticipated initial public offering (IPO), the company reported Monday.
Reddit is targeting a $6.5 billion valuation in its forthcoming initial public offering , the social media platform revealed Monday. The company, along with some of its investors, plans to raise up to $748 million in its public debut with the sale of roughly 22 million shares priced between $31 and $34 each, Reddit said in a Securities and Exchange Commission filing.
Since then, reports have speculated Reddit would target its valuation anywhere from $5 billion to $15 billion. Founded in 2005 by web developer Steve Huffman and entrepreneur Alexis Ohanian, husband of tennis champion Serena Williams, Reddit has been backed by several marquee investors, from venture capital giant Andreessen Horowitz to China's tech behemoth, Tencent Holdings.
The platform has been a cornerstone of social media culture with a cult following of devoted users, but the online discussion board has lagged behind the success of contemporaries such as Facebook and X. The company has never turned a profit, and said in its filing earlier that it was "in the early stages of monetizing business". Reddit had an average of 73.1 million daily active "uniques" – users who use its platform at least once a day – in the three months ended Dec.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Reddit publicly files IPO papers, detailing plans to license data, sell more ads‘Whatever people are into or going through, it is on Reddit,’ CEO says
Baca lebih lajut »
Reddit’s IPO Filing Is Missing Something: Cofounder Alexis OhanianOnly one of Reddit’s two cofounders is named in a new filing that puts the company weeks away from going public. Alexis Ohanian and Steve Huffman, now CEO, fell out in 2020.
Baca lebih lajut »
Reddit Aims to Raise $748 Million in IPOReddit plans to raise up to $748 million in its upcoming IPO, seeking a valuation of about $6.5 billion. The company will sell about 22 million shares between $31 and $34 per share. Redditors participating in the IPO may cause increased volatility in the stock market.
Baca lebih lajut »
Reddit Is Invested In Bitcoin and Ethereum, SEC Filing ShowsCrypto Blog
Baca lebih lajut »
Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock PriceIn its IPO documents, Reddit said the price and volume of its stock could “experience extreme volatility for reasons unrelated to our underlying business.”
Baca lebih lajut »
Reddit’s biggest risk factor is GoogleAs Reddit has detailed in its IPO S-1 filing, Google is now paying it millions a year for AI training. What is less known: Reddit also depends on Google for a lot of traffic.
Baca lebih lajut »