Reddit shares plunge 25% in two days, end week below first day close

The trading floor of the New York Stock Exchange prepares for the social media platform Reddit’s initial public offering in New York City on March 21, 2024. Spencer Platt | Getty Images Reddit shares are plummeting after experiencing a rally stemming from the social media company’s IPO last week. Shares closed at $49.32, ending the … Read more

Reddit Stock Surges on Its First Day of Trading

A big concern ahead of the public listing was that Reddit, the platform that gave birth to the memestocks of 2021, could also suffer the wild price swings caused by large numbers of investors coordinating their strategy over social media, including Reddit itself, on forums such as r/wallstreetbets. Reddit’s IPO is a test of investor … Read more

Sam Altman’s Reddit stake worth over $600 million after NYSE debut

OpenAI CEO Sam Altman says he has no equity in the $80 billion artificial intelligence startup he co-founded in 2015. His Reddit ownership is another matter altogether. Following Reddit’s stock market debut on Thursday, Altman’s stake in the social media site ballooned by $200 million to over $613 million. Shares of the 19-year-old company jumped … Read more

Reddit prices IPO at $34 per share. r/wallstreetbets predicts it will tank.

Reddit has priced its initial public offering (IPO) at $34 per share, reaching the top of its initially expected price range and hitting its target valuation of $6.4 billion. According to the Redditors at r/wallstreetbets, the company should enjoy it while it lasts. The first significant social media IPO since Pinterest in 2019, Reddit’s stock … Read more

Reddit prices IPO at $34 per share, valuing company at $6.5 billion

In this photo illustration a Reddit logo is seen displayed on a smartphone. Mateusz Slodkowski | Sopa Images | Lightrocket | Getty Images Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range. The offering brought in $519 million, according … Read more

Reddit prices IPO at $34 per share, the top of the range

Reddit priced its stock on Wednesday at $34 a share, the top of the anticipated range, a signal that investors are excited about the company’s IPO on Thursday. The social media giant raised nearly $500 million in the offering.  Excluding employee stock options, the 19-year old company’s valuation will start at $5.4 billion, a far … Read more

Reddit IPO Filings Reveal the Company’s Hopes—and Fears

The amount of time Reddit reports that users spend with its service hasn’t significantly budged either. In September 2021, the company said that US users on average engaged for 28 minutes a day. It ticked up to 30 minutes that December. In December of 2023, the company specified a figure only for “logged-in” US users, … Read more

The FTC is looking into how Reddit licenses data before its IPO

Reddit is planning on going public. But first, the Federal Trade Commission has to check on some stuff. The social media company revealed that on March 14, the FTC sent them a letter declaring that the commission would conduct a “non-public inquiry” regarding Reddit’s licensing of user-generated data for training third-party AI models, per CNBC. … Read more

Reddit’s Sale of User Data for AI Training Draws FTC Inquiry

Reddit said ahead of its IPO next week that licensing user posts to Google and others for AI projects could bring in $203 million of revenue over the next few years. The community-driven platform was forced to disclose Friday that US regulators already have questions about that new line of business. In a regulatory filing, … Read more

Reddit IPO: Price, listing date, and which Redditors are getting the stock

Reddit (RDDT) is set to go public soon and is as of now, one of the most highly anticipated initial public offerings (IPOs) of 2024. The social media company, led by CEO Steve Huffman, is seeking a $6.5 billion valuation and is aiming to raise up to $748 million in the company’s public offering. Planned … Read more