REDDIT posted a more than 20 per cent rise in revenue in 2023 versus the year before, sources familiar with the situation said, as it prepares for one of the United States’ most anticipated potential initial public offerings (IPOs).
#GagOrder Against #Trump Is Expanded to Stop Attacks on Judge’s Family
Donald Trump had in recent days targeted the daughter of Juan #Merchan, the judge overseeing his #criminal trial in Manhattan, in blistering social media posts.
Yes, the company went public. No, it is not a financial success—or even a lifeboat.
Debuting on the charts w/a “DJT” ticker, #TrumpMedia saw a 55% surge in valuation right after markets opened.
Huge influx of cash, right? w/Trump holding ~79M shares, equating to 58% of available stock, the #SPAC debut balloons his #NetWorth by nearly $5B; there were ~136M shares outstanding post-merger.
What a turnaround, right after the lamestream media kept claiming #Trump was in the tank! Another genius business move from the Donald, right in time for him to cover his somewhat discounted #legal bills!
Except … not really, bc a lot of what powered the 1st-day boom is not tenable in the longer term—much like TruthSocial’s business itself.
To put it simply: The success of #TrumpMedia’s #IPO has less to do w/its viability as an enterprise & more to do w/the fandom surrounding that famous name.
I tried to just cover the "news" on this one, but I'm still too emotionally invested in how these social media services keep getting worse. https://somegadgetguy.com/2024/03/15/reddits-ipo-i-hope-it-fails/
I hope Reddit's IPO fails. It probably won't though...
#TrumpMedia merger wins investor approval, netting #Trumppotential windfall
TFG will own ~60% of #TruthSocial, which at its current share price would be worth ~$3.3B.
A lockup agreement will prevent him from selling the shares for 6 months.
A long-delayed move that will open the owners of TruthSocial to stock-market investors & grant Trump a stake worth billions he could use to pay down his #legal#debts.
The vote Fri by investors in #DWA authorized the #SPAC, to merge w/ #TrumpMedia & #Tech Grp as part of a process that will avoid a more traditional #IPO. #Trump will own ~60%, which at DWA’s current share price would be worth ~$3.3B. He & other investors could earn tens of millions more shares through an “earnout” provision tied to the stock’s performance, DWA said in an #SEC filing.
The merger will net TrumpMedia $300M that DWA initially raised from investors.
I was going to get an #RPi#raspberrypi 5 but then I heard about the Sony deal and the #IPO and I think of all the people who've put hours and hours of their free time into a product which was (?is) #OpenHardware and how the directions of that product will now be subject to shareholder rather than user desires.
Sure, we need to think about sustainability in all things #OpenSource but what's the bet ARM or NVIDIA will buy it out to shutter it?
Birkenstock-Sandalen: Vom Hippie-Statement zum Model-Accessoire
Einst galt es in den USA als antikapitalistische Botschaft, "Birks" zu tragen. Mit dem Börsengang in New York könnte Birkenstock auf einen Schlag knapp 8,5 Milliarden Dollar wert sein. Ist das gerechtfertigt? Von Antje Passenheim.
Antriebsspezialist Renk will bis Ende des Jahres an die Börse
Der Panzergetriebe-Hersteller Renk möchte 2023 zurück an die Börse. Für den Rüstungskonzern, der in diesem Jahr den 150. Geburtstag feiert, wäre es der zweite Börsengang der Unternehmensgeschichte.
"If you are a certain kind of cynical, Reddit’s S-1 filing sets off alarm bells. There’s the mention of r/WallStreetBets. (Five mentions in total, actually.) There’s the stockpile it’s amassed of Bitcoin and Ethereum. And there’s the program to give certain power users the option of buying stock before it debuts on the public market."
Holy shit this is really going to be a bigger clusterfuck than expected huh
I understand why #reddit subs are protesting, it's interesting how few services provide what Reddit does. I'm aware of #lemmy and some fediverse options, however if I look at the Reddit subs I follow they are diverse which makes it an interesting place to scroll and post to..
Where are others looking for alternatives? Or are we hoping it will blow over?
Also did Reddit not learn from #twitter ? Is it just an #ipo dick move
8 years ago today (yesterday, actually), 20 September, 2015, when I was a contract engineering mgr for GoDaddy in #Culver_City - a company they had just acquired in the process of an #IPO.
I'm not quite sure how that all works, but everytime I get in the middle of one of those, all the C-Level folks and those who hired me disappear a few days later, buy #yachts and #islands, and I end up being one of the big bosses working for bunch of people I never meet, lolz.
Schott Pharma startet erfolgreich an der Frankfurter Börse
Schott Pharma hat an der Frankfurter Börse ein erfolgreiches Debüt gefeiert. Der Pharmaverpackungskonzern profitiert auch vom wachsenden Geschäft mit injizierbaren Medikamenten wie der Abnehmspritze Wegovy.
Der Gesundheitsschuh-Hersteller Birkenstock startet heute an der Börse - in den Vereinigten Staaten. Dass das Unternehmen nicht Frankfurt, Paris oder Amsterdam wählte, hat mehrere Gründe. Von Stefan Wolff.
"A Baltimore cannabis pharmaceuticals company has filed to go public on the Nasdaq through an initial public offering on the heels of an expanding market for the drug....
To me, there’s one problem that stands out like a beacon: MONEY
(making money is art)
Wall Street: Money Never Sleeps
As the saying goes, “truth is stranger than fiction” here are the 5 Finance & Wall Street films can provide a bit of insight into the wild and sometimes absurd world of finance:
I know it's wishful thinking but I really hope all the media coverage of the protests will tank Reddits upcoming IPO.
Reddit revenue rises 20% ahead of IPO, but it isn’t profitable yet (www.businesstimes.com.sg)
REDDIT posted a more than 20 per cent rise in revenue in 2023 versus the year before, sources familiar with the situation said, as it prepares for one of the United States’ most anticipated potential initial public offerings (IPOs).
Baltimore pharmaceutical company to go public on Nasdaq; Synthetic cannabinoid drug submitted for FDA approval (www.bizjournals.com)
"A Baltimore cannabis pharmaceuticals company has filed to go public on the Nasdaq through an initial public offering on the heels of an expanding market for the drug....