Reddit, the globally renowned social media platform, has made a significant leap into the public market with the finalization of its initial public offering (IPO), boasting a valuation of $6.4 billion. The company achieved this milestone by pricing its shares at the upper end of the anticipated range, successfully raising $748 million through the sale…
Social media giant Reddit experienced a remarkable debut on the New York Stock Exchange as its shares surged by 48% on the first day of trading, closing at $50.44. The company’s initial public offering (IPO), one of the largest by a social media platform, saw its shares priced at $34 each, near the upper end…
Reddit, the influential online forum known for its user-generated content, is gearing up for its initial public offering (IPO) with hopes of achieving a valuation of up to $6.4 billion (£5 billion) when it debuts on the New York Stock Exchange next week. Despite never turning a profit since its inception nearly two decades ago,…
In a highly anticipated move, Reddit unveiled its pricing strategy for its upcoming initial public offering (IPO), setting the stage for its entry into the stock market. The social media platform expects to price its shares between $31 and $34 each, making it the first major social media company to go public in years. The…
Reddit is facing a potential data leak as hackers from the BlackCat ransomware gang threaten to release 80 gigabytes of confidential data stolen during a February breach, with demands for payment and withdrawal of a controversial pricing policy. The hackers claim to have demanded a $4.5 million payout in April for deleting the data and…
A Reddit blackout that began as a two-day voluntary shutdown has entered its third day, with no signs of ending soon. Over 6,000 subreddits, including popular communities like r/aww, r/videos, and r/music, remained inaccessible and in private mode. This prolonged protest is in response to changes in Reddit’s data policies, specifically the decision to introduce…
The Reddit community is currently in the midst of a significant rebellion. Many of the platform’s most popular subreddits, where users gather to discuss various topics, have chosen to “go dark” as a form of protest against announced changes to Reddit’s application programming interface (API) pricing policies. This move has effectively shut down large portions…
