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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
Klaviyo shares open at $36.75 in NYSE debut
  + stars: | 2023-09-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKlaviyo shares open at $36.75 in NYSE debutNYSE Group's John Tuttle joins 'Halftime Report' to discuss Klaviyo's IPO opening for public trading, the investor support behind Klaviyo's enterprise software, and companies from across sectors with IPOs in the pipeline.
Persons: NYSE Group's John Tuttle Organizations: NYSE, NYSE Group's, IPOs
The GOP’s plan for a one-year debt limit increase, said McCarthy, would roll back domestic, non-defense spending to 2022 levels. Through his speech, McCarthy urged Wall Street to pressure the Biden administration to accept spending cuts. He also said that he wasn’t monitoring stock market conditions as he headed into debt ceiling negotiations. McCarthy expressed concern over these developments on Monday but said the Republican debt ceiling plan could solve some of those problems. “You can utilize the debt ceiling as the opportunity to do it,” he added.
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