Reddit reportedly revives plans to go public, but it's likely to be worth way less than the $15 billion it once hoped for
Reddit was the incubator for the meme stock rally of early 2021, where retail traders conformed on the subreddit r/Wallstreetbets to initiate short squeezes on low-value companies like GameStop, Bed Bath & Beyond and AMC. This also drove usage and revenues to Reddit, appearing to boost plans for an IPO.
However, Reddit's markdown if and when it goes public is now likely to be considerable. Fidelity recently valued the group at $6.6 billion,The social media company's continued lack of profitability helped impede its IPO, according to The Information's sources. But at the same time, tech and social media stocks more broadly have received a battering since Reddit's December 2021 filing, with the Nasdaq falling 33.1% over the course of 2022.in particular for investors last year.
At the same time, the number of IPOs collapsed last year from record levels in 2021 as confidence ebbed,A rebound in markets this year, which has seen the Nasdaq rise more than 14% so far, sets the stage better for Reddit's ambitions to finally go public.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Striking Photo of Ohio Train Derailment Posted to RedditWe were able to verify that the aerial picture was shot from above the train derailment that occurred in East Palestine, Ohio, in February 2023.
Baca lebih lajut »
Reddit aims for IPO in second half of 2023 - The InformationSocial media platform Reddit Inc is looking to go public later this year, likely in the second half, the Information reported on Tuesday, citing people familiar with the matter.
Baca lebih lajut »
Reddit Called Out This Bride for ‘Bullying’ Her Traumatized Sister to Attend Her WeddingHer dismissive, judgmental tone had AITA Redditors raging.
Baca lebih lajut »
r/gay - I’m a journalist reporting on the FDA blood donation rule change for gay men, joined by the director of health policy research at the Fenway Institute, a Boston-based group that serves the LGBT community. Ask us anything.Today at 4 p.m.: Post reporter FenitN will be joined by Sean Cahill of the Fenway Institute, a Boston-based group that serves the LGBT community, to talk about the FDA blood donation rule change for gay men. Ask us anything:
Baca lebih lajut »
This San Diego ministry doesn't need a building to do God's workMission that served downtown homeless population for about 100 years closed its building last summer, but volunteers have continued to serve meals
Baca lebih lajut »
East Bay pets of the week for Feb. 17Area shelters’ dogs and cats need their “forever” homes.
Baca lebih lajut »