Reddit shares jumped 38% on Thursday to open at $47 in the first initial public offering for a major social media company since Pinterest‘s debut in 2019. 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. Reddit and selling shareholders … Read more
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, according to two people familiar with the … Read more
Jonathan Raa | Nurphoto | Getty Images Sarah Gilbert spends a lot of time on Reddit. For the past three years, she’s helped moderate the r/AskHistorians subreddit, which has 2 million members and was the subject of her Ph.D. dissertation. She’s been a lurker on the forum since 2012. But when the subject turns to … Read more
In this photo illustration, the Reddit logo is displayed on a cell phone and computer monitor on February 13, 2024 in Los Angeles, California. Mario Tama | Getty Images Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter. The company plans to … Read more
Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.” Its market debut, expected in March, will be the first major tech initial public offering of the year. It’s … Read more
My top 10 things to watch Friday, Feb. 9 1. Stock futures were slightly higher this morning after the S & P 500 briefly crossed 5,000 for the first time in intraday trading Thursday. The broad U.S. stock index is up nearly 5% this year, after gaining more than 24% in 2023. Meanwhile, bitcoin crossed … Read more
A display for image sharing and social media service Pinterest is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Chris Helgren | Reuters Pinterest shares plummeted in extended trading on Thursday after the company issued a weaker-than-expected forecast and missed on revenue. Revenue: $981 million vs. $991 million expected, according to … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible. Here’s Thursday’s edition. Market moves: The … Read more
Drew Angerer | Getty Images News | Getty Images A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Speaking to analysts on the company’s fourth-quarter earnings call, Li said at the time that Facebook’s … Read more
Artificial intelligence-related lobbying reached new heights in 2023, with more than 450 organizations participating. It marks a 185% increase from the year before, when just 158 organizations did so, according to federal lobbying disclosures analyzed by OpenSecrets on behalf of CNBC. The spike in AI lobbying comes amid growing calls for AI regulation and the … Read more