DIRS.INFO The most relevant business & tech news

☆ It's not just you: Reddit is taking over Google
▼ + stars: | 2024-04-17 | by ( Hugh Langley | ) www.businessinsider.com time to read: +11 min

In February, Google and Reddit announced a blockbuster deal that would let Google train its AI models on Reddit content. Google said the deal, reportedly worth $60 million, would "facilitate more content-forward displays of Reddit information," leading to some speculation that Google promised Reddit better visibility in exchange for the valuable training data. Per Sistrix data, Reddit is now as visible in top Google Search results as Instagram. Google CEO Sundar Pichai on stage at Google IO 2023 JOSH EDELSON/GETTYGoogle's Reddit deal and its endorsement of Reddit content in Search show how much it sees Reddit as a crucial part of the future of search. AdvertisementYouTube already has heaps of videos offering advice on hijacking Reddit to rise to the top of Google Search.

Persons: —, Semrush, Reddit, It's, Steve Paine, Paine, we've, Danny Sullivan, Prabhakar Raghavan, Sundar Pichai, JOSH EDELSON, Aleyda Solis, Orainti, Glen Allsopp, Solis, Lily Ray, Ray, Perplexity, Steve Huffman Greg Doherty, Sistrix's Paine, Natalie Slater Organizations: Service, Google, Business, Sistrix, YouTube, Amazon, LinkedIn, Getty Locations: SEOs, Reddit, TikTok

☆ Reddit's lost money for nearly 20 years. Turning a profit is going to be tricky.
▼ + stars: | 2024-03-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewReddit was founded nearly two decades ago, yet it's never turned a profit. After the initial pop in Reddit stock, it slid nearly 9% during its second day of trading on Friday, only to jump 30% on Monday. Reddit framed that as a huge opportunity to attract international users, and appeal to a much larger audience with foreign-language posts. Now that Reddit's finally public, it may be able to reinvent its business and supercharge its finances.

Persons: —, it's, Reddit, There's, The_Donald, Reddit's Organizations: Service, Business, New York Times Company, Facebook

☆ Reddit investors shrug off hold rating, bid up stock another 15% as post-IPO rally continues
▼ + stars: | 2024-03-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Reddit's post-IPO rally continues, despite the company receiving a hold rating from a prominent analyst. Investors continue to rally behind Reddit despite New Street Research issuing a neutral rating on the company "after the stock goes to the moon," analysts wrote in a note that was published Tuesday. Investors expect such a deal "to be added soon," considering OpenAI CEO Sam Altman maintains a 9% stake in Reddit. It also recently entered into an expanded partnership with Google, allowing the search giant to access more Reddit data to train its AI models. Meanwhile, some Reddit users took to the company's various finance-related subreddits on Tuesday to discuss the company's rising shares since its IPO.

Persons: Steve Huffman, Sam Altman, Altman, Condé Nast, Reddit, Reddit's, I've, I'd, Dash Organizations: New York Stock Exchange, New, Research, Investors, Advance Magazine Publishers, Google, Federal Trade Commission, FTC, GameStop, Nasdaq, Trump Media & Technology Group Locations: New York City, Reddit's, Reddit, pontificating

☆ As Reddit goes public, advertisers say it needs to do more to prove it can boost their sales
▼ + stars: | 2024-03-21 | by ( Lara O'Reilly | Lauren Johnson | ) www.businessinsider.com time to read: +7 min

"Advertising on Reddit is rapidly evolving, and we are still in the early phases of growing this business," Reddit wrote in its IPO filing. The company said advertisers were attracted to Reddit due to its "high-intent" audience, much of which is hunting for product recommendations. And elsewhere, Reddit doesn't have the kind of e-commerce structure that Meta, TikTok, and Google have built, experts said. It has poached ad talent from companies like Pinterest and Meta to grow its ad business. Also last year, Jim Squires, a former longtime Meta ad exec, joined Reddit in a new role as EVP of business marketing and growth.

Persons: it's, Reddit, Reddit hasn't, Brad Kay, Reddit didn't, haven't, TikTok, Jerry Daykin, Daykin, Carly Carson, Reddit doesn't, Anthony Macro, Harold Klaje, Klaje, Jim Squires, Jeff MacDonald, That's, MacDonald, PMG's Carson Organizations: Google, Business, Brand, Meta, Beam Suntory, PPC, Reddit, YouTube Locations: Meta

☆ Reddit power users balk at chance to participate in IPO as Wall Street debut nears
▼ + stars: | 2024-03-20 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +10 min

It's not just market conditions that have Reddit moderators like Gilbert forgoing the investment opportunity. Reddit has long had a rocky relationship with moderators and the site's most dedicated users, or Redditors. In total, Reddit said underwriters have reserved 1.76 million of the 8 million shares in the IPO for the DSP. Meme stocksOf all companies, Reddit knows something about stock market volatility. However, given the dearth of tech IPOs since the start of 2022, White said Reddit's offering is "probably a little more risky."

Persons: Jonathan Raa, Sarah Gilbert, she's, She's, Airbnb, Doximity, Reddit's, Klaviyo —, It's, Gilbert forgoing, Reddit, Steve Huffman, Gilbert, you've, Alexis Ohanian, Twitch, BuckRowdy, Joshua White, White, FormicaDinette33, subreddits, it's, Wrestlegirl, Maharaj, shouldn't, He's, jeering, Courtnie Swearingen, Victoria Taylor, Swearingen, San, — CNBC's Cameron Costa Organizations: Nurphoto, Getty, New York Stock Exchange, Cornell University's Citizens, Technology, Google, YouTube, Facebook, CNBC, GameStop, AMC Entertainment, Vanderbilt University Locations: New, Chicago, San Francisco

Social media company Reddit is looking to raise almost $750 million in an initial public offering of its common stock. The company said in a regulatory filing that the IPO will include 22 million shares of Class A common stock. Reddit is offering approximately 15.3 million shares, while the selling stockholders are offering about 6.7 million shares. The underwriters were also given the right to buy up to an additional 3.3 million shares to cover any overallotments. The agreement will also give Reddit access to Google AI models for improving its internal site search and other features.

Persons: Reddit, Steve Huffman Organizations: underwriters, Securities and Exchange Commission, Google, New York Stock Exchange Locations: San Francisco

☆ Reddit's long-awaited IPO is targeting a $6.4 billion valuation
▼ + stars: | 2024-03-11 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Reddit is targeting a $6.4 billion valuation for its IPO this year. The company is planning to sell 22 million shares, with a pricing range of $31 to $34. At the top end of the valuation range, the offering would raise $748 million. About 15.3 million of the 22 million shares will be sold by the company. Reddit's expected pricing range sets a fully diluted valuation range between $5.8 billion and $6.4 billion, marking a sharp decrease from the $10 billion private valuation the company achieved in its last funding round, in August 2021.

Persons: —, Reddit Organizations: Service, SEC, GameStop, AMC Locations: Birkenstock

Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter. The Wall Street Journal was first to report on the expected range and valuation. Employees will be allowed to sell Reddit stock during the offering, the source added. Reddit had a private market valuation of $10 billion when it last raised a funding round of $1.3 billion in 2021, according to PitchBook. Reddit's IPO will represent the first major tech offering of the year and the first social media IPO since Pinterest's Wall Street debut in 2019.

Persons: Reddit, Sam Altman's, he'd, Altman, Condé Nast, Alexis Ohanian, Steve Huffman, Airbnb, OpenAI's, John Tuttle Organizations: New York Stock Exchange, Tencent, Advance Magazine Publishers, Securities and Exchange Commission, Google, Reddit Locations: Los Angeles , California, Reddit

☆ Reddit warns its business could be damaged by another moderator revolt
▼ + stars: | 2024-02-23 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Last year, Reddit moderators protested against site changes that restricted third-party app access. In its S-1 filing ahead of its planned IPO, the company admitted that a moderator revolt is one risk factor. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementYears after the website's launch, Reddit, an online message board platform, is preparing to go public next month. In advance of the planned IPO, the company filed a prospectus with the Securities and Exchange Commission, which outlines risks associated with its business that potential shareholders should be aware of.

Persons: subreddits, — Organizations: Service, Securities and Exchange Commission, Business

☆ Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway
▼ + stars: | 2024-02-23 | by ( Clare Duffy | John Towfighi | ) edition.cnn.com time to read: +6 min

The move would make Reddit the first major social media company to go public since Snapchat in 2017. In its 18 years as an online social hub, Reddit has seen enormous growth, occasional controversy and even market-shifting stunts. Reddit users often post anonymously in these forums, discussing everything from memes to major news events. Steve Huffman, CEO of Reddit attends Variety & Reddit An Evening With Future Makers at Wynn Las Vegas on January 05, 2023 in Las Vegas, Nevada. Still, the incident helped draw attention to the power of Reddit communities.

Persons: New York CNN — Reddit, Reddit, ”, Steve Huffman, ” Huffman, Condé Nast, Alexis Ohanian, Huffman, Sam Altman, Ohanian, TheFacebook, Greg Doherty, ” Reddit Organizations: New, New York CNN, San Francisco, New York Stock Exchange, Securities and Exchange Commission, Advance, University of Virginia, Facebook, YouTube, Twitter, Wynn Las, Variety, GameStop, Google Locations: New York, San, Wynn Las Vegas, Las Vegas , Nevada

☆ Reddit aims to ride the AI wave by going public
▼ + stars: | 2024-02-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

The platform's listing, expected next month, would be the largest IPO by a social media company since Pinterest in 2019. That means some are wondering why Reddit has waited until now to make its move, but AI might have something to do with it. Reddit also listed data licensing and AI training as part of its income streams. "We are going public to advance our mission and become a stronger company," he said in a founder's letter included in the prospectus. AdvertisementRepresentatives for Reddit did not immediately respond to a request for comment from BI, made outside normal working hours.

Persons: Reddit, Sam Altman, Steve Huffman, Huffman, Fortune, Katie Notopoulos Organizations: New York Stock Exchange, Facebook, Twitter, Business, Securities and Exchange Commission, Google, University, Virginia, GameStop, AMC Locations: Reddit

☆ Reddit Warns That Meme Stock Investors Could Come for Its Own Stock
▼ + stars: | 2024-02-22 | by ( Meghan Morris | ) www.businessinsider.com time to read: +2 min

As Reddit prepares to go public, the social-media company issued an unusual warning to investors. AdvertisementGameStop, AMC, and other companies saw huge swings in their stock prices starting in 2021, thanks to chatter on social-media platform Reddit. In lawyerly language, Reddit wrote that individual ("retail") investors may home in on the company's stock. AdvertisementReddit S-1 cautions that retail investors could make the stock volatile Reddit S-1 screenshotReddit is offering its most frequent users a chance to buy into the IPO alongside institutional investors. Reddit users, meanwhile, gather on WallStreetBets (mentioned five times in the S-1) and other subreddits, where many posters are bearish about the company's upcoming IPO.

Persons: Reddit, Redditors, — Organizations: GameStop, Service, AMC, Securities and Exchange Commission

☆ Reddit files to list IPO on NYSE under the ticker RDDT
▼ + stars: | 2024-02-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +6 min

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol "RDDT." The social networking company's core business is reliant on online advertising sales stemming from its website and mobile app. Reddit said the current addressable advertising market is $1.0 trillion, sans China and Russia. Reddit said that its non-employed moderators, known as Redditors, can participate in the company's IPO offering through its "directed share program."

Persons: Reddit, Pinterest, Alexis Ohanian, Steve Huffman, It's, DAUq, Condé Nast Organizations: Securities and Exchange Commission, New York Stock Exchange, P Global Market Intelligence, Google, eBay, . Publishing, Condé Locations: U.S, Reddit's U.S, China, Russia, Ukraine

☆ ‘True Detective’ Season 4, Episode 4 Recap: The Monster Under the Bed
▼ + stars: | 2024-02-04 | by ( Scott Tobias | ) www.nytimes.com time to read: +2 min

It is a realistic, down-to-earth police procedural that’s swarming with supernatural beings and lots of storytelling bric-a-brac. One of the great strengths of “Night Country” — and the three Nic Pizzolatto seasons of “True Detective” before it — is how beautifully it can conjure these modern noir images from distinct locales. And yet, so little narrative real estate was given over to Julia until this final episode that her death feels more like a device than an emotional payoff. In a pre-credits scene, we witness Danvers’s compassion in scooping her off the streets and bringing into the station, which brings her closer to Navarro. As for Navarro herself, the heaviness of this loss is a family curse that now threatens to swallow her, too.

Persons: ”, Issa López, there’s, Navarro’s, Julia, Aka, Nic Pizzolatto, scooping, Navarro Organizations: brac Locations: Navarro

☆ Staff at Pure Barre and other boutique gyms say a major franchisee stiffed them on pay, sent bizarre emails, and talked about drinking his own urine
▼ + stars: | 2023-11-21 | by ( Jake Swearingen | Jack Newsham | ) www.businessinsider.com time to read: +15 min

Staff at some Pure Barre, CycleBar, Row House, and other high-end fitness studios aren't being paid. Outposts of CycleBar, Row House, and other pricey fitness studios have also shut their doors, suddenly and sometimes without explanation. In one call reviewed by Business Insider, Brown spoke about drinking his own urine. In his November 8 email to all studio staff, Brown wrote that he "failed all of you." And unlike the fitness studio employees, they didn't find the message or tone of Brown's November 8 email surprising.

Persons: Mitch Brown, —, Brown, Amy, Xponential, Jaime Miettinen, Miettinen, Mitch, Jason Whitman, Stride, hollowing, we're, Pamela Chatman, CycleBar, Subreddits, Chatman Organizations: Service, Staff, Business, Midwest, Professional Holdings, Employees, Xponential, Research, Holdings, Fitness, Pure Locations: Barre, CycleBar, Pure Barre, Detroit, California, New York, Ohio, Michigan, Brown

☆ Walmart, Amazon, and others lost millions of dollars to an organized online refund fraud scheme
▼ + stars: | 2023-11-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Retailers, including Walmart and Amazon, lose millions of dollars to refund fraud schemes. AdvertisementAdvertisementA coordinated refund fraud scheme has cost online retailers like Walmart and Amazon millions, according to Federal prosecutors. If the retailer provided a no-return refund, ARG would take a percentage cut, and the customer would keep the item. Retailers like Amazon, Walmart, and Target sometimes offer no-return refunds when the cost of the return outweighs the value to the seller. 404 Media also found numerous Reddit and Telegram groups openly swapping tips on perpetrating refund fraud, with specific advice for individual retailers.

Persons: Courtwatch, —, Artemis, Kate Spade Organizations: Walmart, Amazon, Service, Media, Watch

☆ Return to Office Mandates Are Making Remote Jobs Impossible to Find
▼ + stars: | 2023-09-26 | by ( Aki Ito | ) www.businessinsider.com time to read: +7 min

That's more than twice as frenzied as the rush for remote jobs at the beginning of last year. And third, there's been a dramatic slowdown in tech, the industry that supercharged the boom in remote work. The few remaining employers that continue to offer remote jobs have been overwhelmed by the surge of interest. AdvertisementAdvertisementWith so few openings, candidates for remote jobs are being forced to hustle like never before. The dream of remote work, it appears, will soon be more remote than ever.

Persons: That's, Ashlee Anderson, there's, Angel Medina hasn't, it's, he's, He's, It's, Medina, Atlassian, —, Barbara Matthews, Lisa Nielsen, Slack, they're, Matthews, Anderson, we're, Aki Ito Organizations: Cribl, Harvard, Verizon, Google, subreddits, Meta, Comcast Locations: Ohio, Cribl

☆ Welcome to the rabbit hole of agony aunt-killer subreddits, where users discuss money, love, and villainy
▼ + stars: | 2023-08-23 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +6 min

Today, Reddit's subreddits take center stage. But these advice subreddits might not be so different from the agony aunt advice columns of yesteryear. But beyond them is a funky constellation of subreddits where users come to pour out their innermost thoughts and burning questions. The poster wrote, "I feel like even at 28, no matter how hard I try to fit in and be nice, I somehow mess it up." AdvertisementAdvertisementTo be sure, Reddit's public advice columns are not without their detractors.

Persons: Abby, Dan Savage, Reddit's, —, Redditors, University of Tampa's David Gudelunas, Dorothy Dix, Ann Landers, Gudelunas Organizations: Morning, University of Tampa's Locations: London

☆ The Instagram Account That Shattered a California High School
▼ + stars: | 2023-08-17 | by ( Dashka Slater | ) www.nytimes.com time to read: +4 min

It had been lifted from her own Instagram account — her favorite picture from a trip to Lake Tahoe with her best friend. Compared with his sister, who had been both an academic and an athletic superstar in high school, Charles was kind of a slacker — smart enough to take advanced classes like A.P. “We’re going to figure this out,” she assured him when he finally choked out a description of the Instagram account. All things that were portrayed on the account do not actually portray my true feelings about people of color. The account had started at a chain restaurant called the Melt that was known for its grilled-cheese sandwiches.

Persons: Charles, wasn’t, ”, Charles wasn’t, “ It’s, ” Charles, “, “ We’re, Charles scrolled, Charles didn’t Locations: Tahoe, China

☆ Reddit throughout the years: Its rise to prominence, recent revolts and IPO plans
▼ + stars: | 2023-07-30 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

The price hikes have led some beloved third-party Reddit apps such as Apollo to shut down, instigating an uproar among the website's community of volunteer moderators, who often rely on third-party apps to run the site's 100,000+ discussion communities, called subreddits. But tensions remain high, and some say that if Reddit doesn't rebuild trust, its most passionate users will go elsewhere. Ohanian rejoined Reddit as executive chairman in 2014 and Huffman rejoined as CEO the next year. But it's not just tech giants who use Reddit's API. These third-party apps are largely just alternatives to Reddit's official mobile app, which didn't even exist until 2016.

Persons: Reddit, David DeWald, Alexis Ohanian, Steve Huffman, Paul Graham, Ohanian, Huffman, Y Combinator, Condé Nast, Debra Aho Williamson, George Floyd's, it's, Apollo, Jakub Porzycki Organizations: University of Virginia, Advance, Facebook, Insider Intelligence, GameStop, AMC, Google, Getty

☆ How to start an OnlyFans without followers, according to creators
▼ + stars: | 2023-07-06 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +8 min

Here's how to start building, promoting, and monetizing OnlyFans content, according to creators. Creators Insider spoke with said they'd found success cross-promoting their OnlyFans content on Twitter, Reddit, and TikTok, among other platforms. Subscriptions are the most basic option for creators looking to monetize their OnlyFans content. The remaining 10% of the accounts earnings comes from tips, which are another revenue stream for OnlyFans creators. See 3 examples of 'tip menus' from OnlyFans creators who shared their strategies for using them

Persons: OnlyFans, Chloe Sasha, it's, Anne, Bryce Adams —, —, Jay, Bryce Adams, Mrs, Robinson, they'd, Reddit, Farrah, Read, Morgan Edwards, Kitty K, Edwards, That's, Alanah Cole, Cole Organizations: OnlyFans, Twitter, YouTube Locations: OnlyFans

☆ Minecraft developers quit Reddit after company's controversial changes
▼ + stars: | 2023-06-29 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

In the latest blow to Reddit after its controversial billing changes, the makers of Minecraft — one of the best-selling video games of all time — have quit the platform. "Reddit management introduced changes recently that have led to rule and moderation changes across many subreddits," a tech lead at Mojang Studios, the Microsoft-owned company behind Minecraft, posted on the r/Minecraft Reddit community Tuesday. "Because of these changes, we no longer feel that Reddit is an appropriate place to post official content or refer our players to." An update to the post clarified that it is not an official policy for all of Mojang Studios, Xbox or Microsoft. The protests included the wildly popular r/Funny, with more than 40 million members, along with r/Music and r/Science, each boasting more than 30 million users.

Persons: Minecraft, —, Reddit Organizations: Mojang Studios, Microsoft, Java, Xbox, Reddit, Guinness World Records, CNBC

☆ Hackers who say they stole Reddit data demand the platform reverses its API pricing policy and pay $4.5 million ransom it previously asked for
▼ + stars: | 2023-06-20 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Hackers are demanding Reddit policy changes amid an ongoing battle over its API pricing. As well as the funds, they are now demanding Reddit reverses its API pricing plans, per The Verge. Hackers are threatening to publicly release 80 GB of Reddit data they say they have stolen. Last week, the hackers followed up by continuing to demand the money and additionally asking Reddit to reverse its planned API pricing changes, per The Verge. The planned API pricing changes have proved controversial, sparking protests and blackouts across the site.

Persons: Reddit, Dominic Alvieri, Steve Huffman Organizations: Twitter, NBC

☆ Thousands of Reddit Communities Stay Dark as App Policy Protest Continues
▼ + stars: | 2023-06-20 | by ( Michael Levenson | ) www.nytimes.com time to read: 1 min

Thousands of volunteer-run message boards on Reddit remained dark on Tuesday, a week after moderators of the communities began what they called a 48-hour protest against Reddit’s planned changes to its business model. More than 3,200 message boards, known as subreddits, remained restricted or private, down from nearly 9,000 last week, according to a website tracking the revolt. Others were flooded with memes mocking Reddit’s chief executive, Steve Huffman, as anger continued to bubble on the site over changes to the company’s business model. Moderators of some of the communities that reopened said they had done so after Reddit threatened to replace them. “We want the best for this community and have no choice but to open it back up — or have it opened for us,” the moderators of the Apple enthusiast forum r/Apple wrote in a message in which they called on Mr. Huffman to resign.

Persons: Reddit’s, Steve Huffman, Apple, Huffman Organizations: Apple

☆ A NSFW Reddit community is now a 'Christian Minecraft server' as moderators attack the site's 'disgusting' and 'disrespectful' monetization moves
▼ + stars: | 2023-06-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

A popular NSFW Reddit community has been transformed into a "Christian Minecraft server." An adult content community on Reddit says it's turned into a "Christian Minecraft server" in protest over the platform's "treacherous" pricing policy. Its moderators said it's "bidding farewell" to its NSFW content and is attempting to become an "amusing" place instead. "The important takeaway here is Reddit does not care about this community and Reddit does not care about you," they wrote. Another moderator for the community r/IndianSkincareAddicts said it's making its subreddit private "indefinitely" from June 23 and called the company's actions "disgraceful, disrespectful and downright disgusting."

Persons: subreddit, it's, subreddits, Reddit, Steve Huffman, VinlandSaga, IndianSkincareAddicts, Reddit didn't Organizations: Financial Times Locations: Reddit

Search resuls for: "subreddits"

25 mentions found