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Reddit Quickly Becomes the Day's Hottest Stock

It jumps more than 50% in IPO

(Newser) - Reddit soared in its Wall Street debut as investors pushed the value of the company close to $9 billion seconds after it began trading on the New York Stock Exchange. Reddit, which priced its IPO at $34 a share, debuted Thursday afternoon at $47 a share. The going price has...

Reddit Goes Public

Reddit Goes Public

Company's shares will start trading Thursday as 'RDDT'

(Newser) - Reddit will enter a new era as a publicly traded company with a market value of $6.4 billion after the social media platform's initial public offering was priced at $34 per share, the AP reports. The price announced late Wednesday came in at the top end of the...

Reddit Gets Over Cold Feet, Files for IPO

In unusual move, top users will have a chance to grab up shares

(Newser) - "The world's most popular message board" is going public. Reddit, which abandoned plans for an initial public offering a couple of years ago, filed for an IPO on Thursday, reports NPR . Founded in 2005 by University of Virginia dormmates Alexis Ohanian and Steve Huffman, the social media site...

Musk Has One- Word Response to Report of Starlink IPO

'False' is his reply to Bloomberg article on possible SpaceX initial public offering as early as next year

(Newser) - Elon Musk is countering reports suggesting SpaceX is considering spinning off its Starlink satellite business in an initial public offering as soon as next year. Though the SpaceX CEO described the report as " false " on Wednesday, Bloomberg reported that SpaceX had already begun moving Starlink's assets to...

BuzzFeed Employees Seek Millions Over Stock Snafu

Group of former, current employees say they were unable to sell on IPO day

(Newser) - In the early days at BuzzFeed, employees labored with relatively low pay and dreams of IPO day, when their stock options would make them whole. This is the common arrangement in many start-ups. Terms like SPAC, stock transfer agent, and arbitration probably did not figure into employees’ thinking at the...

Reddit Files for IPO
Look Who's Going Public

Look Who's Going Public

Reddit files for IPO, wants users to be shareholders

(Newser) - Reddit is going public. The popular social media site known for "ask me anything" conservations with celebrities and the hot WallStreetBets investors forum , said late Wednesday that it has confidentially filed paperwork for an initial public offering with the Securities and Exchange Commission. "The number of shares to...

Rivian Customers Cash In on Pre-Order Stock Offer

EV buyers were eligible to buy IPO shares that then jumped

(Newser) - When Rivian set up its initial public offering, the electric vehicle company set aside 7% of its IPO allocation for its directed share program. Eligible participants included anyone pre-ordering a vehicle, CNBC reports. So when Rajiv Patel put down $1,000 for an SUV, he maxed out on the stock...

Oat Milk Maker's IPO Is Being Closely Watched

Analysts see Oatly IPO as a test of market's appetite for vegan food firms

(Newser) - Milk alternatives are big business—and a Swedish oat milk maker's initial public offering is being seen as a big deal. Oatly's shares will start trading in New York on Thursday for between $15 and $17 each, which values the vegan food and drink maker at around $10...

Bumble's Debut Makes CEO a Billionaire

Few self-made women have achieved such wealth

(Newser) - Shares of Bumble reached $72 on Thursday afternoon in the company's market debut, making its chief executive not only wealthy but a rarity. That price meant that Whitney Wolfe Herd's shares were worth $1.5 billion. Few tech entrepreuners bursting into such territory are women, Bloomberg reports; 559...

Ignoring IPO Email Costs Airbnb Hosts

Some hosts cashed in, buying shares at the opening price, and some ignored the offer

(Newser) - Even for hosts, it was easy to overlook an email last month with the subject line "Airbnb's Directed Share Program." That was costly, though. The email was an offer to get in on the company's initial public offering, NPR reports. Airbnb earmarked as many as 3....

Told of Opening Price, Airbnb Boss Is Stumped

Company's valuation more than doubles for IPO

(Newser) - In preparing for its IPO, Airbnb priced its shares at $68. The stock price doubled in premarket trading to open Thursday on the Nasdaq at $146, a development that company co-founder and chief executive officer was not prepared for, Fast Company reports. That puts Airbnb at a market cap of...

Ant Group's IPO Could Raise a Record $35B
This IPO Could
Raise a Record $35B

This IPO Could Raise a Record $35B

Chinese fintech Ant Group giant hopes to top Saudi Aramco's sale last year

(Newser) - The world's largest fintech company, China's Ant Group, will try to raise nearly $35 billion in a huge public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the Alipay digital wallet in China and one of the world'...

As Investors Scoop Up Shares, One Thing Looms Over BTS

K-pop group's star is rising—but military service awaits

(Newser) - Ordinary investors got a shot at shares in the management agency of K-pop sensation BTS on Monday and Tuesday. And they didn't hold back, requesting 58.4 trillion won worth—the equivalent of $50.2 billion. As AFP reports, that's 607 times more than the value of the...

Investor Makes $12B on Biggest Software IPO Ever
Investor Makes $12B on
Biggest Software IPO Ever
the rundown

Investor Makes $12B on Biggest Software IPO Ever

Snowflake has a massive debut

(Newser) - If you're hearing the word "snowflake" a lot today, it has nothing to do with politics. Snowflake the tech company is coming off the largest software IPO in history on Wednesday, reports CNN . The company priced its shares for the initial public offering at $120, but they opened...

Saudis Ready a Huge IPO
Get Ready for a Huge IPO

Get Ready for a Huge IPO

After years of delays, offering of state-owned oil giant Saudi Aramco is finally underway

(Newser) - Saudi Arabia began an initial public offering Sunday of a sliver of oil giant Saudi Aramco after years of delay, hoping international and local investors will pay billions for a stake in the kingdom's crown jewels, reports the AP . An approval by Saudi Arabia's Capital Market Authority served...

Another Ride-Sharing Giant Just Went Public

Uber shares were going for $45 each, raising $8.1B, just weeks after Lyft's IPO

(Newser) - With a ring of the opening bell, Uber began picking up passengers as a newly minted public company Friday, giving investors a chance to bet on a service with huge potential but a long way from turning a profit. Shares in the ride-hailing giant were sold in an initial public...

Beyond Meat's IPO Was Beyond Successful

Share price more than doubled on first day

(Newser) - Investors have a big appetite for fake meat. The shares of Beyond Meat, the purveyor of plant-based burgers and sausages, more than doubled Thursday in its Nasdaq debut. It's the first pure-play maker of vegan "meat" to go public, according to Renaissance Capital, which researches and tracks IPOs....

Most Profitable Company in World Isn't What You Think

Saudi oil giant cleared $111 billion in 2018

(Newser) - Saudi Arabia has let the world see the financials for its national oil company for the first time, and they couldn't be much better. Saudi Aramco posted $111 billion in net income in 2018, making it the world's most profitable company by far. That $111 billion is more...

As Lyft Goes Public, Founders Get Very Rich

$510M for John Zimmer and $700M for Logan Green, reports 'Forbes'

(Newser) - Think ride-hailing is the future of transportation? It's now possible to put some money behind your faith. Lyft began trading publicly on the Nasdaq exchange Friday, and investors seemed receptive. Shares opened at $87.24, roughly 21% higher than the $72 the company settled on for its IPO, reports...

Lyft's IPO Stats: Fast Growth, Big Losses

Company will be going public in March or April

(Newser) - Lyft got the ball rolling Friday on what the Wall Street Journal expects will be one of the busiest seasons for tech IPOs in years. Lyft won't actually go public until late March or early April, but it released its IPO documentation to give the public a glimpse into...

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