Reddit (RDDT) IPO this week (Wed/Thu)

Q

Quanto

The long awaited Reddit (RDDT) IPO finally comes this week.
"The social media platform is set to price one of the year’s most closely watched US IPOs Wednesday, with the company and some existing shareholders seeking to raise as much as $748 million, according to company filings. It plans to begin trading on the NYSE Thursday under the symbol RDDT. "
https://finance.yahoo.com/news/reddit-ipo-fate-rests-users-160000927.html
WebSite: https://www.reddit.com/
See also: https://en.wikipedia.org/wiki/Reddit
Reddit_logo_2023.svg.png
 
https://finance.yahoo.com/m/025cddb4-72a1-39fb-85f8-69c3cfbcaf56/a-pre-ipo-history-of-reddit:.html
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A pre-IPO History of Reddit: From “front page of the internet” to billion-dollar valuation
Laura Rodini
Tue, March 19, 2024 at 3:30 PM GMT+1·10 min read

What a momentous time to be a Redditor. The aptly-named contributors to Reddit, the online bulletin board and social sharing platform, have “first dibs” at company shares when Reddit makes its IPO on Thursday, March 21, 2024.

Soon to be trading on the New York Stock Exchange (NYSE) under the ticker symbol RDDT, Reddit has set aside 1.76 million shares for users and moderators who have held accounts on the popular platform before January 1, 2024.

This is an unusual move for a company going public, as IPO shares are usually reserved for big-name institutional investors since they buy and sell stocks in massive amounts that can help companies meet targeted capital requirements. But in its IPO filing with the SEC, Reddit CEO Steve Huffman says that since the platform was built upon the principles of community, he wanted his community to own a share of their company.

“We want this sense of ownership to be reflected in real ownership — for our users to be our owners. Becoming a public company makes this possible”
—Reddit CEO Steve Huffman, S-1 Filing, February 22, 2024

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I still don't understand why anyone would want to own this company. Not a single profit made in its entire history.....

This would have been hot probably 15 yrs ago but damn this company is just being completely hyped.

It's a damn message board...big deal
 
S2007S said:
I still don't understand why anyone would want to own this company. Not a single profit made in its entire history.....

This would have been hot probably 15 yrs ago but damn this company is just being completely hyped.

It's a damn message board...big deal
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Do you mean all already has been there or is there, so nothing else, nothing new can have any chance?... :)
They earn money very much like the others: from advertisements placed on their platform...
This will always be so. So, it's up to the company how well it does it in competition with the others...

And such an important event like the IPO and being listed at the stock exchange undoubtfully will rise their reputation, ie. means more paying customers placing ads on their platform...
 
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S2007S said:
I still don't understand why anyone would want to own this company. Not a single profit made in its entire history.....

This would have been hot probably 15 yrs ago but damn this company is just being completely hyped.

It's a damn message board...big deal
More...
I use to love reddit more than any social media platform or forum I have ever used...WSB pre meme stock explosion was one of the best places on the internet. unfortunately, around 2020 it was overrun with far left extremists (basically had a platform wide pink-haired moderator takeover) and I was banned for life for mentioning something about "trannies". Reddit was the last of the mega social medias where you could actually cut up and talk some shit in an uncensored environment...BUT the real beauty of reddit was having 1 username and password to access a forum about anything you can imagine. Questions about repairing a swimming pool pump? what about food brand recommendations for your poodle? maybe some info on a new diesel truck you are wanting to buy? crossfit? powerlifting? identifying some classical music you heard years ago? etc etc etc...

There were subject matter experts in every forum and it was an excellent source of information for a DIYer.

To be completely honest...i truly believe in its present state, reddit is primarily a gigantic leftist propaganda machine. Opinions outside of the reddit hive mind that aren't typical gen Z think are labelled as "hate speech" and you get banned. don't believe me...just go on r/politics...one of the biggest subs on the site and see the obvious bias...even downright censorship. and the number of bots on reddit pushing their agenda...ie manipulating the youth to adopt their ideas, (I suspect) to be larger than any other platform.
 
Reddit Announces Pricing of Initial Public Offering
https://finance.yahoo.com/news/reddit-announces-pricing-initial-public-214500275.html
"
SAN FRANCISCO, March 20, 2024--(BUSINESS WIRE)--Reddit, Inc. ("Reddit") today announced the pricing of its initial public offering of an aggregate 22,000,000 shares of its Class A common stock, 15,276,527 of which are being sold by Reddit and 6,723,473 of which are being sold by certain selling stockholders, at a public offering price of $34 per share.
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I think Reddit will do well if today's Astera Labs IPO is any sign -- opened 46% above IPO price at the open. RDDT priced at the high range at $34. I bet it opens at $40+ and goes to $50.
 
zghorner said:
I use to love reddit more than any social media platform or forum I have ever used...WSB pre meme stock explosion was one of the best places on the internet. unfortunately, around 2020 it was overrun with far left extremists (basically had a platform wide pink-haired moderator takeover) and I was banned for life for mentioning something about "trannies". Reddit was the last of the mega social medias where you could actually cut up and talk some shit in an uncensored environment...BUT the real beauty of reddit was having 1 username and password to access a forum about anything you can imagine. Questions about repairing a swimming pool pump? what about food brand recommendations for your poodle? maybe some info on a new diesel truck you are wanting to buy? crossfit? powerlifting? identifying some classical music you heard years ago? etc etc etc...

There were subject matter experts in every forum and it was an excellent source of information for a DIYer.

To be completely honest...i truly believe in its present state, reddit is primarily a gigantic leftist propaganda machine. Opinions outside of the reddit hive mind that aren't typical gen Z think are labelled as "hate speech" and you get banned. don't believe me...just go on r/politics...one of the biggest subs on the site and see the obvious bias...even downright censorship. and the number of bots on reddit pushing their agenda...ie manipulating the youth to adopt their ideas, (I suspect) to be larger than any other platform.
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Everything you said is so spot on. I think the 2014-2016 era was great at Reddit. After Trump got elected the leftists really got pissed and banned everything they could.

The old r/WSB was the best but the 2020-2021 meme YOLO stonks era was annoying. WSB is still pretty good for comedy. The 2022 NASDAQ crash created a lot of great comedy from the previous YOLO crowd like the deepfakes of Powell saying "Fuck your calls/puts".

r/politics became shitshow after the "Blue check" crowd took over during the 2016 primaries. I remember it was mainly BernieBros who posted stuff in 2015-16 before the "I'm with Hillary" crowd took over. Today it is a real disaster. It's a 24/7 anti-Trump crusade. ET's politics section is much more balanced in comparison.
 
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