Here’s how Reddit plans to price shares when it goes public
CNN
Reddit on Monday said it expects to price shares between $31 and $34 each when it makes its long-anticipated initial public offering, which will make it the first social media company to go public in years.
Reddit on Monday said it expects to price shares between $31 and $34 each when it makes its long-anticipated initial public offering, which will make it the first social media company to go public in years. The announcement gives potential investors — including some Reddit users — additional information to evaluate if they want to buy stock in an IPO that will allow more retail investors than usual to participate because of its unusual structure. Reddit, along with some existing stockholders, plans to offer 22 million shares of the company’s Class A stock, meaning the IPO could raise as much as $748 million from those shares, according to an updated prospectus. The company officially announced its IPO last month. Reddit itself expects to earn approximately $450 million in proceeds from the IPO, if shares are priced at the midpoint of its expected range. The company said it will use the funds for general purposes such as operating expenses, and potentially to license, acquire or invest in new technologies, assets or intellectual property. Overall, Reddit is seeking a $6.4 billion valuation with the IPO. That’s less than the $10 billion valuation that Reddit targeted when it announced its last funding round in 2021. Some investors believe Reddit’s listing could be a bellwether for the larger IPO market, which has been in a slump, with Wall Street hoping for a blockbuster listing that could revive dealmaking. And it could signal the current appetite among investors to buy shares in an unprofitable company after Reddit said last month it has not turned a profit in its nearly 19-year history.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
If President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could have unintended and severe consequences that reverberate throughout the US economy and global markets.
Public media stations are on the verge of losing the federal funding that has helped keep them on the air for decades. Here’s what that would look like.
In a shocking move, CBS is ending “The Late Show with Stephen Colbert” next year, potentially exiting the late-night television business altogether.
Water beads have long been criticized for being dangerous, even fatal, for kids. Now two members of a government watchdog are tearing into a decision by the acting chair of the body to delay a final ruling on the toys.
Federal Reserve Chair Jerome Powell responded by letter Thursday to a senior Trump administration official who accused the head of the central bank of mismanaging an “ostentatious overhaul” of its Washington, DC, headquarters.
Top Democrats on the oversight committee say Fox presented Trump’s comments about the so-called Epstein files in a way that both misled the public and distorted his position.
Public TV stations will be “forced to make hard decisions in the weeks and months ahead,” PBS CEO Paula Kerger said Thursday, after the Senate approved a bill canceling all the federal funding for the network.
US President Donald Trump is trying again to end the war in Ukraine – not by targeting Russia, but by hitting the countries that buy Russia’s oil.
Americans are still opening their wallets, even as President Donald Trump’s tariffs start to take a bite.
Global stock markets have largely shrugged off President Donald Trump’s renewed tariff campaign. In commodities markets, however, tariff threats have sent the price of copper soaring to all-time highs — signaling the potential for higher tariff-induced prices for a metal with critical uses across the US economy.
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line. You can’t even joke about that, the Wall Street intellectuals told us — the central bank’s independence is simply too important.
China has put export restrictions on technologies critical for producing electric vehicle batteries, in a move to consolidate its dominance in the sector that has contributed to the country’s lead in the global EV race.