Reddit's initial public offering is currently between four and five times oversubscribed, people familiar with the matter said on Sunday, making it more...
NEW YORK - Reddit's initial public offering is currently between four and five times oversubscribed, people familiar with the matter said on Sunday, making it more likely the social media platform will attain the $6.5 billion valuation it seeks.
The sources said the marketing of the IPO was continuing and asked not to be identified because the details are confidential. A Reddit spokesperson did not immediately respond to a request for comment.Reddit has already curbed its valuation expectations after it was valued in a $10 billion private fundraising round in 2021. The company's IPO is currently seeking to raise as much as $748 million.
Reddit's 100,000 online forums, dubbed "subreddits," allow conversations on topics ranging from "the sublime to the ridiculous, the trivial to the existential, the comic to the serious," according to co-founder Steve Huffman. To tap retail investors, Reddit has reserved 8% of the total shares on offer for eligible users and moderators on its platform, certain board members and friends and family members of its employees and directors.This dividend stock has a solid present, and a strong future for investors looking to gain monthly passive income while they wait. The post This 8% Dividend Stock Pays Cash Every Month appeared first on The Motley Fool Canada.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reddit’s planned IPO to seek up to $748 million(Bloomberg) -- Reddit Inc. and its investors are seeking to raise as much as $748 million in what would be one of the biggest initial public offerings so far...
Read more »
FTC Probes Reddit’s Plan to License User Content to AI FirmsThe Federal Trade Commission is probing Reddit’s plans to license user-generated content to other firms to train artificial intelligence models, the company said in a regulatory filing on Friday, the week before its planned initial public offering.
Read more »
Reddit, birthplace of the meme stock, is going public. Here's what to expectThe Reddit logo is seen in this illustration taken on Nov. 7, 2022.
Read more »
Payments Startup Zilch Expects to Be Profitable in Months, Seeks IPO Next YearZilch Technology Ltd. is close to becoming profitable and is looking to pursue an initial public offering next year, according to its Chief Executive Officer Philip Belamant.
Read more »
Canada's IPO drought reaches a full year with no end in sightCanada’s biggest market for initial public offerings is marking a grim milestone of a full year without a new listing, and with investors focused on a narrow set of themes, senior bankers don’t expect relief before the second half of 2024.
Read more »
Sexy Tea Is Said to Pick CICC, Morgan Stanley for Hong Kong IPOHunan Chayue Cultural Industry Development Group Ltd., also known as Sexy Tea, has selected banks for a Hong Kong initial public offering, which could take place as soon as this year, according to people familiar with the matter.
Read more »