Reddit, the "popular meme producer", is about to go public.
Tencent is revealed to be the second largest shareholder!
Reddit is used to provide content to help Google train AI and win a staggering 1.9 billion annual revenue contract.
"當紅迷因出產地"Reddit要上市了 揭露騰訊為第二大股東! 傳Reddit供內容幫谷歌訓練AI 獲年收19億驚人合約｜非凡財經新聞｜20240223
https://m.youtube.com/watch?v=JPC4AlR0fKk
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Re: Reddit
by behappyalways » Tue Mar 12, 2024 7:06 pm
Reddit launches long-awaited IPO with US$748 million target
https://www.theedgesingapore.com/capita ... ion-target
https://www.theedgesingapore.com/capita ... ion-target
血要热 头脑要冷 骨头要硬
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Re: Reddit
by winston » Fri Mar 22, 2024 8:39 am
not vested
Social media platform Reddit’s shares ended their first day of trading in New York up 48 per cent, signaling that investor appetite for initial public offerings (IPOs) of promising yet loss-making companies could be returning.
Reddit, which has not turned an annual profit since launching in 2005, lured investors by positioning its content as training grounds for artificial intelligence (AI) programs.
Reuters reported last month that Reddit struck a data licensing deal with Google worth about US$60 million a year.
While Reddit still relies on advertising for the vast majority of its revenue, it touted AI in its IPO marketing roadshow as an area of growth.
It also disclosed last week that the US Federal Trade Commission is looking into its AI data licensing deals.
Shares of the San Francisco-based company opened at US$47 on the New York Stock Exchange on Thursday (Mar 21) after pricing at US$34 in the IPO, the top of the company’s indicated price range. They ended trading at US$50.44.
The IPO valued Reddit at US$6.4 billion, and the company and its selling shareholders raised US$748 million.
Reddit was valued at US$10 billion in a private fundraising round in 2021, and the strong stock market reception indicated that the company may not have needed to curb its valuation expectations so much to get the IPO off the ground.
Source: Phillips
Social media platform Reddit’s shares ended their first day of trading in New York up 48 per cent, signaling that investor appetite for initial public offerings (IPOs) of promising yet loss-making companies could be returning.
Reddit, which has not turned an annual profit since launching in 2005, lured investors by positioning its content as training grounds for artificial intelligence (AI) programs.
Reuters reported last month that Reddit struck a data licensing deal with Google worth about US$60 million a year.
While Reddit still relies on advertising for the vast majority of its revenue, it touted AI in its IPO marketing roadshow as an area of growth.
It also disclosed last week that the US Federal Trade Commission is looking into its AI data licensing deals.
Shares of the San Francisco-based company opened at US$47 on the New York Stock Exchange on Thursday (Mar 21) after pricing at US$34 in the IPO, the top of the company’s indicated price range. They ended trading at US$50.44.
The IPO valued Reddit at US$6.4 billion, and the company and its selling shareholders raised US$748 million.
Reddit was valued at US$10 billion in a private fundraising round in 2021, and the strong stock market reception indicated that the company may not have needed to curb its valuation expectations so much to get the IPO off the ground.
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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