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Reddit, along with some existing stockholders, plans to offer 22 million shares of the company’s Class A stock, meaning the IPO could raise as much as $748 million from those shares, according ...
Chief among them is Steven Huffman, Reddit’s cofounder and CEO, who plans to sell 500,000 shares. Huffman could make $17 million if the IPO prices at $34. He'll have 3.3% voting power after the ...
Reddit stock soared on its first day of trading, ending the day up nearly 50% from its initial public offering price of $34 a share.The stock closed at $50.44 on Thursday, up 48% from the IPO ...
A shareholder rights plan, colloquially known as a "poison pill", is a type of defensive tactic used by a corporation's board of directors against a takeover.. In the field of mergers and acquisitions, shareholder rights plans were devised in the early 1980s as a way to prevent takeover bids by taking away a shareholder's right to negotiate a price for the sale of shares directly.
In business, a corporate raid is the process of buying a large stake in a corporation and then using shareholder voting rights to require the company to undertake novel measures designed to increase the share value, generally in opposition to the desires and practices of the corporation's current management. The measures might include replacing ...
Reddit is a public company based in San Francisco. [169] [107] In 2023, it downsized from an office in the Mid-Market neighborhood [170] to an office in the South of Market neighborhood. [171] Reddit doubled its headcount in 2017; [172] as of 2018, it employed approximately 350 people. [107]
Unusually, Reddit offered stock to its redditors and other insiders, reserving up to 8 percent of the stock for them. In addition, the company also offered stock to individual investors through ...
In an exciting move in the world of finance, social network Reddit is expected to issue its initial public offering with a total valuation of $6.5 billion. The company tried to go public in 2021,...