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☆ Reddit shares soar 14% after company reports revenue pop in debut earnings report
▼ + stars: | 2024-05-07 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Reddit shares rallied 14% in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in March. That may not compare with the $8.71 loss expected by LSEG$8.19 loss per share. That may not compare with the $8.71 loss expected by LSEG Revenue: $243 million vs. $212.8 million expected by LSEGRevenue climbed 48% from $163.7 million a year earlier. For the second quarter, Reddit expects revenue of $240 million to $255 million, topping the $224 million expected by analysts, according to LSEG. The company reported 82.7 million daily active users for its first quarter, up from the 76.6 million expected by StreetAccount.

Persons: Steve Huffman, Snoo, Reddit, Here's, Meta, Alexis Ohanian, Huffman Organizations: New York Stock Exchange, LSEG, LSEG Revenue, Digital, Amazon, Google, StreetAccount Locations: New York

☆ Reddit shares rise 30% to start week after social media company's IPO
▼ + stars: | 2024-03-25 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange (NYSE) in New York on March 21, 2024. Reddit shares were up 30% to $59.80 at the market's close on Monday. The social media company's stock has been rising ever since it went public last week and raised roughly $750 million from the IPO, of which the company brought in about $519 million. Reddit shares soared 48% when it began trading on the New York Stock Exchange under the stock ticker "RDDT," resulting in a number of moderators and users, known as Redditors, earning millions of dollars as a group. Reddit's IPO came the same week that Astera Labs shares skyrocketed 72% on the day that the data center hardware company made its public market debut on the Nasdaq.

Persons: Steve Huffman, Snoo, Sam Altman, Reddit, Lo Toney, Toney Organizations: New York Stock Exchange, Reddit's, Astera Labs, Nasdaq, Capital, CNBC Locations: New York

While occupying very different corners of the technology market, Reddit and Astera were the first notable venture-backed tech companies to go public in the U.S. since Instacart and Klaviyo in September. Morgan Stanley was the big winner among banks, having captured the coveted lead left spot on both IPOs. Goldman Sachs led last year's only two big venture-backed offerings, meaning it had been a long dry spell for Morgan Stanley. In the past two years, there have only been 15 tech IPOs total, according to research provided by University of Florida finance professor Jay Ritter. That came after a booming market in 2021, when 121 tech companies went public, the most since the dot-com bubble in 2000.

Persons: hadn't, Morgan Stanley, Goldman Sachs, Jay Ritter, Eric Juergens, Debevoise, Plimpton, Lynn Martin Organizations: New York Stock Exchange, Inc, Astera Labs, University of Florida, Investment, . New York Stock Exchange, CNBC Locations: U.S, Klaviyo, IPOs, .

☆ Redditors bank millions of dollars as a group on stock's opening day
▼ + stars: | 2024-03-21 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Reddit power users who participated in the company's IPO made millions of dollars as a group in profits after the stock's big jump in its first day on the market. It's a model that was used by companies like Airbnb , Rivian and Doximity to reward their loyal users and customers. In a reply to LearnedButt, Reddit user friskevision wrote, "Although I didn't invest as much as you, I did make a quick $1,500. Reddit user Reepicheepee made a small investment in the shares. The Reddit user Galactic responded, "High-5, fellow DSP dumper," adding, "Never thought this site would make me money, but here we are!"

Persons: Redditors, Drew Vollero, Axios, —, LearnedButt, friskevision, Reddit, blackberrydoughnuts, Reepicheepee, follysurfer, subreddit, Steve Huffman, Huffman, Redditor erjo5055 Organizations: New York Stock Exchange, Inc, CNBC, GameStop, AMC Entertainment, Galactic Locations: It's

☆ JPMorgan, Snap, and other employers are giving $1,700 Snoos to employees with newborns as part their parental benefits packages
▼ + stars: | 2023-07-25 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Dozens of companies are offering their employees Snoos for free or at reduced costs. The cribs, which cost $1,700, are available for free at companies like JPMorgan and Snap. Some new parents of corporate America are receiving more than just paid parental leave and lactation rooms from their employers. Companies like JPMorgan Chase, Snap, Hulu, and Activision Blizzard are among those offering the devices to employees, according to Happiest Baby. The Snoo benefit is one of many new parental benefits that companies are beginning to offer their employees with babies amid a childcare crisis.

Persons: JPMorgan Chase, Milt Ezzard, Ezzard, WorkLife Organizations: JPMorgan, Companies, Activision Blizzard, Employers, JPMorgan Chase, Hulu, Paypal, Snoos, Street Journal, Financial Times

☆ Welcome to the Era of Very Earnest Parenting
▼ + stars: | 2023-05-13 | by ( Caitlin Moscatello | ) www.nytimes.com time to read: +2 min

Another popular account is Big Little Feelings, created by two longtime friends, Kristin Gallant, 36, and Deena Margolin, 33, a licensed psychotherapist. Started just before the pandemic began, Big Little Feelings now has more than three million followers on Instagram, and the mood is more moms-in-survival-mode. Solid Starts, which helps parents safely introduce new foods and avoid picky eating, has 2.6 million followers on Instagram. Taking Cara Babies, a sleep training guide for exhausted parents, has 2.4 million followers. Busy Toddler, an account dedicated to thoughtful play, has two million followers.

☆ You're a sucker if you trust ChatGPT
▼ + stars: | 2023-02-19 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +4 min

But first: Adam Rogers, a senior tech correspondent at Insider, breaks down why ChatGPT is for suckers. Well, social scientists don't really know why anyone believes anything, from kooky stuff they read on Twitter to closely held ideals. Faced with those conditions, Gen Z has adapted to a new normal: When in doubt, find a new job. It has rankled some of the academics and advocates whose work helped kick off the psychedelics renaissance in the first place. Insider spoke to more than a dozen industry participants to chart its rise and its role in the psychedelics boom.

☆ Dr. Harvey Karp planned to tell the press the $1,700 Snoo was 'proven to reduce SIDS' last summer. But the FDA stamp of approval never came.
▼ + stars: | 2023-02-15 | by ( Kate Taylor | Jake Swearingen | ) www.businessinsider.com time to read: +6 min

Dr. Harvey Karp nearly announced last summer that the FDA certified that Snoo reduces SIDS. But 15 years later, the ability of the Snoo — now on the market as a $1,700 high-tech bassinet — to reduce SIDS remains unproven. Despite lofty promises from Karp and Nina Montée Karp, his wife and cofounder, experts who spoke with Insider remain skeptical. Karp said he and his wife created the Snoo to reduce parent stress and reduce SIDS. But the FDA approval never came, and the press release was never officially distributed.

☆ A husband-wife duo turned the $1,700 Snoo into the holy grail of parenting, but some say they run their company like a dysfunctional 'surveillance state'
▼ + stars: | 2023-02-13 | by ( Kate Taylor | Jake Swearingen | ) www.businessinsider.com time to read: +31 min

Karp and Montée Karp built the hype into a parenting-media empire that put out three books and two instructional films in 10 years. Karp and Montée Karp met at a Hollywood party in the early '90s. Karp and Montée Karp promised her independence and flexibility to accommodate her two young children's day-care schedules and a 90-minute commute. Karp and Montée Karp insisted on being involved in minutiae that most top executives hand off. Karp and Montée Karp turned the Snoo into an award-winning holy grail of parenthood in just a few years.

☆ Nina Montée Karp and Dr. Harvey Karp turned the $1,700 Snoo into the holy grail of parenting. But some say they overhyped the crib's abilities and created a nightmarish corporate culture.
▼ + stars: | 2023-02-13 | by ( Kate Taylor | Jake Swearingen | ) www.businessinsider.com time to read: +31 min

☆ Reddit employees who lost their jobs are livid that the company is painting them as low performers: 'A cruel and dishonest way to kick a person when they're down'
▼ + stars: | 2023-02-02 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +8 min

A Reddit spokesperson declined to share the number of employees the company had let go so far, or planned to in total. In total, 10 former Reddit staffers who lost their jobs in January told Insider they did not consider themselves low performers based on their past feedback from the company. One current staffer told Insider they felt they may have been on the chopping block in January and narrowly avoided a termination. Some moved from business development jobs to work on creator services within its community-management and product teams, the Reddit spokesperson previously told Insider. Reddit also informed employees about a cut to some benefits late last year, eight current and former staffers told Insider.

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