Reddit set to go public: Shares from $31 expected this month :
euronews.com/business/2024/03/11/reddit-becomes-public-shares-from-31-expected-this-month
Quick Glance: Reddit to Go Public: Shares Priced at $31 Expected This Month
- San Francisco-based social media company Reddit is set to go public this month, aiming to raise nearly $750 million (€686 million) through its initial public offering of common stock.
- Reddit plans to include 22 million shares of Class A common stock in the IPO, with 15.3 million shares expected to be available while selling stockholders offer about 6.7 million shares.
- The anticipated price of Reddit's shares is between $31 (€28) and $34 (€31) per share, and the company intends to utilize the proceeds for general corporate purposes, taxes, and possible acquisitions.
- In the October-December quarter, Reddit reported a net income of $18.5 million (€16.9 million) on revenue of $249.8 million (€228.6 million), primarily driven by advertising.
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| Last Updated | Mar 17 |
| Total Articles | 70 |
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