Reddit files to list IPO on NYSE under the ticker RDDT
Publishing timestamp: 2024-02-22 19:32:50
Summary
Reddit filed for IPO, plans to trade on NYSE under ticker symbol "RDDT." The company has raised $1.3 billion in funding and has a post valuation of $10 billion. Reddit's core business is reliant on online advertising sales, but it has struggled to build a business comparable to tech giants like Meta and Alphabet. The company is exploring new revenue channels, including data licensing and search advertising. Reddit will offer three classes of stock with different voting shares and non-employed moderators can participate in the IPO offering. The company has seen fluctuations in daily active users and warns of potential volatility in its stock price.
Sentiment: MIXED
Tickers: PINS, GOOG, META, GOOGL, RBLX,
Keywords: alphabet class c, business news, roblox corp, mobile, alphabet inc, breaking news: technology, ipo, pinterest inc, meta platforms inc, technology, social media, internet,
Source: https://www.cnbc.com/2024/02/22/reddit-files-to-list-ipo-on-nyse-under-the-ticker-rddt.html