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☆ 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

☆ OpenAI CEO Sam Altman stands to net millions as Reddit goes public
▼ + stars: | 2024-02-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI CEO Sam Altman will be in a position to make millions after Reddit goes public, thanks to a series of bets on the online discussion board company that go back to 2014. Altman will hold 9.2% of voting power after Reddit's initial public offering, according to information in the company's prospectus. In 2014 Altman led Reddit's $50 million Series B funding round, after using the service every day for nine years, he wrote in a blog post. In the first half of 2021, Reddit was raising a Series E round, and Altman invested $50 million. He went on to say that investors in the Series B round would give 10% of shares to Reddit users.

Persons: Sam Altman, Reddit, Altman, OpenAI, Reddit's, It's, Steve Huffman, that's, FirstMark's Organizations: Microsoft, New York Stock Exchange, Nasdaq, Silicon

☆ Reddit will let users buy its IPO, but warns that they could make the stock riskier
▼ + stars: | 2024-02-22 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Reddit's initial public offering will include a quirk that allows some of its most active users to buy the stock. "Our users have a deep sense of ownership over the communities they create on Reddit. We want this sense of ownership to be reflected in real ownership — for our users to be our owners. But the Reddit users that participate in the IPO will not be subject to a lock-up agreement, the filing said, which could add to volatility in the stock. Reddit users have already proven that they have a taste for trading volatile stocks.

Persons: Reddit, Redditors Organizations: GameStop, AMC Entertainment

☆ Reddit reveals how much karma you'll need for a chance to buy into its IPO early
▼ + stars: | 2024-02-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Reddit unveiled how users will qualify for priority access to buy its stock ahead of its opening. Reddit users and moderators will be sorted into one of six tiers, according to its IPO paperwork. One of the top tiers is open to users with 200,000 karma or 5,000 moderator actions. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementYou'll need a whole lot of karma or moderator experience on Reddit if you want the chance to buy into the company's stock at its IPO price ahead of its public debut.

Persons: Reddit, — Organizations: Service, Wall Street Journal, Business

☆ Redditors don't want to buy Reddit stock
▼ + stars: | 2024-02-22 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +2 min

It's offering something unusual: the chance for moderators to buy stock. The possibility of a bunch of Redditors holding stock is enough of a risk for volatility that they had to mention it in their IPO filings. But are Reddit's power users actually interested in buying Reddit stock? r/WallStreetBets is a subreddit with 15 million subscribers devoted to meme-heavy stock chatter, best known for being the 2021 GameStop stock craze. AdvertisementAs far as what this means for Reddit's IPO, who knows?

Persons: — Organizations: Service, Google, Business, GameStop

☆ Loyal Reddit users could win big from its IPO
▼ + stars: | 2024-02-21 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Some Reddit users could be among the first to buy the company's stock in its IPO next month. It's an unusual strategy, but one that stock trading app Robinhood tried in 2021. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementReddit's most frequent users could go from posting comments to posting gains — or losses — when the company goes public. Some 75,000 of the company's biggest users will have the chance to buy its stock at the IPO price in March before it starts trading, The Wall Street Journal reported on Wednesday.

Persons: — Organizations: Service, Street, Business

☆ These Apple Vision Pro buyers are returning their headsets — and this is why
▼ + stars: | 2024-02-13 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Read previewWhen the Apple Vision Pro hit the market on February 2nd, would-be fans lined up at the break of dawn to test the mixed-reality headset at their local Apple Stores. One major reason Vision Pro customers say they want a refund: its seemingly clunky design. Some Redditors who claim to be returning the Vision Pro also referenced how uncomfortable it is to wear the headset. Disappointment in the headset's vision quality is another gripe expressed by Vision Pro customers. AdvertisementThat is, if the Vision Pro ever gets cheaper.

Persons: —, they're, Farzad Mesbahi, Mesbahi, Collin Michael, he's, Michael, Apple, Kane Sutter, Matt Schneider, Apple didn't, Sutter Organizations: Service, Apple Vision, Apple Stores, Business, Twitter, Apple, Vision, Vision Pro, YouTube, Pro

Mint is set to shut down in 2024, and some users are switching to the budgeting app Monarch Money. One of the most hyped-up Mint alternatives among Reddit users is the budgeting app Monarch Money. Find out why some Mint users are switching to Monarch Money and decide whether it's a good option for you. Monarch Money FAQsWho is the founder of Monarch Money? Monarch Money allows you to create a budget, set savings goals, track your net worth, and analyze your cash flow.

Persons: —, Karma, Val Agostino, You'll, you've, Jon Sutherland, Ozzie Osman Organizations: Service, Mint, Money, Intuit, Karma, Monarch, Plaid

☆ Who is Elly Conway? Everything to know about the mysterious author at the center of the movie 'Argylle'
▼ + stars: | 2024-01-31 | by ( Olivia Singh | ) www.businessinsider.com time to read: +7 min

Matthew Vaughn's "Argylle" stars Bryce Dallas Howard as an author named Elly Conway. The film is based on a book written by a supposedly real-life author named Elly Conway. AdvertisementMatthew Vaughn's latest action movie "Argylle" has been garnering lots of attention lately, and fans are demanding to know the identity of first-time author Elly Conway. AdvertisementVery little is known about ConwayBryce Dallas Howard as Elly Conway in "Argylle." "I am begging Elly Conway to come out of the shadows because this Taylor Swift thing freaked me out.

Persons: Matthew Vaughn's, Bryce Dallas Howard, Elly Conway, Conway, Vaughn, it's Taylor Swift, —, Conway Bryce Dallas Howard, Peter, MARV Conway's, Jason Fuchs, Henry Cavill, Samuel L, Jackson, Ian Fleming's, Ellie, Elly, Alfred Solomon, Matthew Vaughn, Peter Mountain, MARV, Argylle, Instagram, who's, Terry Hayes, Hayes, James Gray, Taylor Swift Taylor Swift, Anita Ko, Kevin Mazur, Swift, she's, Nils Sjöberg, Conway's, Meredith Grey, Chip, it's, Taylor Swift, Claudia Schiffer, Rolling Stone, Schiffer, Alfie, Taylor Organizations: Service, Universal Pictures, Apple, Apple Original Films, Bantam Books, Random, Penguin Random, New Yorker, Twitter, The Hollywood, Washington Post, argyle, Netflix Locations: United States, New, New York, Swift

☆ 7 weird jobs that are well-paying but nobody knows about, according to a viral Reddit thread
▼ + stars: | 2023-11-30 | by ( Aria Yang | ) www.businessinsider.com time to read: +5 min

A Reddit user asked what are weird jobs nobody knows about but pay well. AdvertisementA Reddit user asked which jobs were relatively unknown but lucrative and the post went viral. Teeth designerA Reddit user said he makes teeth on a computer using CAD/CAM software for dental laboratories. Artificial flavor makerOne Reddit user wrote, "My dad was a master flavorist. Reddit user solarblack wrote, "My Aunt and her daughter both do seasonal work as hand pollinators and harvesters.

Persons: Redditors, —, IndependenceNo2060, Loreo1964, die_lahn, solarblack Organizations: Service, Business, Heineken

☆ The meme stock mania is now a movie. Here's what has happened to GameStop and AMC
▼ + stars: | 2023-09-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

There's Anthony Ramos' Marcus, a GameStop cashier, being lectured by his parents that this stock trading thing isn't real. Reddit versus Wall StreetMany social media traders discussed the meme stock moment in David vs Goliath terms — the retail traders versus the hedge funds. Several brokerages limited trading in meme stocks at the height of the meme stock mania. In the second quarter of 2019, before the meme stock mania began, the company generated about $1.3 billion in net sales. The AMC stock sales have diluted the holdings of individual shareholders, and the market cap of AMC is still down more than 50% from its peak.

Persons: Pete Davidson, Paul Dano's Keith Gill, Kitty, There's Anthony Ramos, Marcus, Jenny, hasn't, David, Gabe Plotkin, Seth Rogen, Capital, Robinhood, Chewy, Ryan Cohen, Matthew Furlong, shakeups, Adam Aron, Plotkin Organizations: Sony Pictures Entertainment, GameStop, YouTube, Ferrari, AMC Entertainment, AMC, SEC, Amazon, Wall Street titans, Charlotte Hornets

☆ A UPS driver posted their $2,400 weekly paycheck to Reddit. Here's the flood of comments it sparked.
▼ + stars: | 2023-09-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

A viral Reddit post about a UPS driver's pay sparked complaints and praise. Interest in becoming a UPS driver is spiking after UPS increased total compensation to $170,000. A Reddit user posted an apparent copy of their UPS paycheck to the site on Tuesday — and it quickly went viral. For 49 hours of work, the UPS driver made more than $2,400 before taxes, according to the paycheck that was posted. "I'm a UPS delivery driver.

Persons: couldn't, they'd Organizations: UPS, Service, Teamsters Locations: Wall, Silicon, Texas

☆ A bumper sticker mocking Elon Musk is sparking a polarizing debate about what it means to drive a Tesla
▼ + stars: | 2023-09-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

A picture of a bumper sticker that mocks Elon Musk is again making the rounds on social media. A Reddit post about the sticker sparked a debate on whether Tesla can be separated from its CEO. It's unclear where the apparent bumper sticker originated, or whether there's more than one. As for the reaction to the bumper sticker, one user said people need to stop tying Musk so closely to Tesla. "It's idiotic," the user posted on a thread with a photo of the bumper sticker.

Persons: Elon Musk, Tesla, Elon, There's, Musk, Joe Biden, Redditors, I've, Redditor, I'd, MAGA Organizations: Service, EV, Twitter, Defamation, ADL, Starbucks, OG, Bloomberg, CNN Locations: Wall, Silicon

☆ A Tesla bumper sticker that says 'I bought this before we knew Elon was crazy' keeps popping up on social media. It's prompting a debate about whether you can separate a product from its CEO.
▼ + stars: | 2023-09-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

A picture of a bumper sticker that mocks Elon Musk is again making the rounds on social media. In the picture that was posted on the "me_irl" subreddit, a Model Y is shown with a bumper sticker that says: "I bought this before we knew Elon was crazy." It's unclear where the apparent bumper sticker originated, or whether there's more than one. As for the reaction to the bumper sticker, one user said people need to stop tying Musk so closely to Tesla. "It's idiotic," the user posted on a thread with a photo of the bumper sticker.

Persons: Elon Musk, Tesla, Elon, There's, Elon Musk's, Musk, Joe Biden, Redditors, I've, Redditor, I'd, MAGA Organizations: Service, EV, Twitter, SEC, Tesla, Defamation, ADL, Starbucks, OG, Bloomberg, CNN Locations: Wall, Silicon

☆ 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

☆ Redditors in LA are compiling a list of restaurants that ask customers to pay extra fees as diners grow increasingly frustrated with added charges
▼ + stars: | 2023-08-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Redditors are compiling a list of Los Angeles restaurants that charge diners extra fees on their checks. The additional costs include security charges, service charges, card fees, and "administrative fees." Redditors have begun compiling a list of restaurants in Los Angeles that charge diners additional fees on their checks. The Google Sheets document, which started in r/LosAngeles, has more than 200 entries, with fees including corkage charges, service charges, and credit card fees. Some are a bit more vague, described on their menus or websites as "administrative fees" or "restaurant fees."

Persons: it's, gratuities, Il Organizations: Google, Service, Oceanview Locations: Angeles, Wall, Silicon, Los Angeles, Santa Monica, Hollywood, Venice, Century City, Encino, Manhattan Beach, Lake, Perch, Downtown Los Angeles, Korean, Alhambra

☆ Middle-income Americans think prosperity is within reach
▼ + stars: | 2023-07-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Santander recently released a quarterly survey of about 2,250 middle-income bank and financial services customers (defined as having household incomes between $47,000 and $142,000.) Illegal child labor is on the rise in a tight job marketUS child labor violations have jumped in recent years. Now, the Department of Labor has announced actions it’s taken so far this year through a new interagency task force on child labor. Between October 1, 2022, and July 20, 2023, the Department of Labor concluded 765 child labor cases, found 4,474 children employed in violation of federal child labor laws and assessed more than $6.6 million in penalties against employers, the agency announced on Thursday. In addition, the Wage and Hour Division of the Labor Department is currently pursuing more than 700 open child labor cases.

Persons: New York CNN —, Tim Wennes, “, ”, Bell, they’re, they’ll, they’ve, That’s, We’re, we’ve, BlackRock, Tupperware, it’s, Labor Julie Su, Jordan Barab, Obama, Barab Organizations: CNN Business, Bell, New York CNN, Federal, Heartland Tri, State Bank of, Federal Deposit Insurance Corporation, First Bank, Spain’s Santander, SC, Santander, New York Stock Exchange, GameStop, AMC, Libra Investment, Department of Labor, Labor, Occupational Safety, Health Administration, Labor Department Locations: New York, PacWest, Banc, California, State Bank of Elkhart , Kansas, America, United States, Santander, Florida, noncompliance, Tupperware

☆ Tupperware might just be the latest meme stock after its shares tripled in a week
▼ + stars: | 2023-07-29 | by ( Ryan Hogg | Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Tupperware might be the latest meme stock after more than tripling in value within a week. Shares in the embattled food container maker more than tripled since July 20 to just over $3, leaving many to wonder whether it might be the latest "meme stock." According to data from Marketwatch, 27% of Tupperware shares that are available to trade have been "shorted" by investors. The amount of short interest in Tupperware has indeed fallen more than a quarter this year amid apparent interest from retail investors. On r/WallStreetBets, the birthplace of the meme stock craze, members were giddily comparing the stock to Bed Bath & Beyond, the now-bankrupt homeware chain that had captivated certain investors since 2021.

Persons: Earl Tupper, didn't, Neil Saunders, Saunders, I've, Tupperware Organizations: Marketwatch, Orlando Business Journal, BlackRock, Orlando Business, Bed Locations: freefall, Tupperware

☆ Tupperware stock is up 165% this week for no good reason
▼ + stars: | 2023-07-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The meme traders are back. Shares of Tupperware (TUP) have exploded by about 165% this week and more than 300% over the last month for no discernible reason. Sales are on the decline and Tupperware even warned in April that it was on the brink of bankruptcy. Before you join the “Tupperware party,” remember that meme stocks tend to be very volatile, with sweeping highs and lows. Tupperware shares are still down nearly 30% year to date.

Persons: BlackRock, “, ”, Tupperware Organizations: New, New York CNN, New York Stock Exchange, GameStop, AMC, Libra Investment Locations: New York, Florida, noncompliance, Tupperware

☆ Redditors are raging about ditching thank-you coins and awards for something 'more valuable'
▼ + stars: | 2023-07-15 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Reddit is ditching coins and awards and some users are not happy. The company announced on Thursday it planned to phase out Reddit coins and awards. Reddit awards are given by users and show up as icons next to posts. As part of this, we made a decision to sunset coins (including Community coins for moderators) and awards (including Medals, Premium Awards, and Community Awards), which also impacts some existing Reddit Premium perks." The change also affects Reddit Premium users as the company will stop offering them a monthly coin drip and premium awards from September 12.

Persons: Reddit, –, Redditors, weren't, Redditor Organizations: Reddit

☆ Some Redditors say they're walking away after Apollo app shuts down
▼ + stars: | 2023-07-01 | by ( Jyoti Mann | Thomas Maxwell | ) www.businessinsider.com time to read: +3 min

Some Redditors said they'll no longer use the site after third-party app Apollo shut down. A popular third-party Reddit app shut down Friday – and some of the social network's users are pledging to walk away as a result. The app, which let Redditors access the platform through its own interface, had more than 1.5 million monthly users in June, Selig said, citing data from analytics firm Mixpanel. The Canadian developer previously said Reddit's demands for compensation were unreasonable compared with how much money Apollo made from paid subscriptions. Are you a Reddit user or employee with insight to share?

Persons: they'll, Reddit, Christian Selig, he's, Selig, I'm, It's, Apollo, I've, Jyoti Mann, Thomas Maxwell Organizations: Reddit Locations: jmann

☆ Reddit sent messages to its protesting mods threatening to boot them if they don't get in line and end their virtual protest, The Verge reports
▼ + stars: | 2023-06-17 | by ( Grace Eliza Goodwin | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

The Verge reported that Reddit admins reached out to protesting mods to urge them to work or be removed. Critics argue the move is punishing users for protesting changes to the platform. Reddit administrators sent messages to protesting moderators threatening to kick them out of their roles if they don't get in line and end their virtual blackout, The Verge reported. Rathschmidt told Insider that mods currently being removed from their posts were being removed for violating the code of conduct, not for protesting. As if the mod code of conduct is some kind of moral or legally binding document.

Persons: Reddit, Tim Rathschmidt, That's, Redditors, Rathschmidt, Reddit's, Casey Newton, Newton

Then, a deep dive into MrBeast and what his YouTube empire says about the future of the internet. Reddit came along and said, oh, we need to protect Reddit from the rise of these large language models. So I don’t think they’re totally out of the woods. But I don’t think people would say it was a golden age for how safe the platforms fell to use. But I want to challenge you on this, because I don’t necessarily think that it’s a bad thing if we have past peak trust and safety.

Persons: kevin roose, you’ve, casey newton, casey newton Yes, I’ve, there’s, kevin roose I’m, Kevin Roose, ” casey newton, Casey Newton, Casey, Reddit, casey newton Right, roose, Steve Huffman, you’re, Kevin, It’s, They’re, casey newton Well, they’ve, we’re, Huffman, “, Redditors, We’ve, Everyone’s, we’ve, I’m, let’s, Sam Walton, Max, kevin roose Hey, kevin roose Oh, kevin roose Max Read, MrBeast, it’s, Jimmy Donaldson, He’s, Willy Wonka, he’s, somethings, haven’t, kevin roose We’ll, We’ll, kevin roose She’s, she’s, kevin roose MrBeast, Jeremiah, jeremiah howard, Jeremiah Howard who’s, Jimmy, Burger, You’re, Stefan Molyneux, PewDiePie, Paul, Let’s, Raman, kevin roose It’s, MrBeast financials, doesn’t, Logan Paul, they’re, Vincent Miller, Jon Hamm’s, Matthew Weiner’s, kevin roose Max, Will, Max Read, ” kevin roose, casey newton Max, Robert F Kennedy, COVID, Kennedy, Instagram, Connor Roy, Marjorie Taylor Greene, Robert F Kennedy Jr, Elon, Donald Trump, We’re, Jim Jordan, kevin roose Totally, Alex Jones, casey newton Totally, Kate Kalanick, Trump, Tucker Carlson, aren’t, — casey newton, hasn’t, Rachel Cohn, Jen Poyante, Caitlin Love, Alyssa Moxley, Dan Powell, Elisheba Ittoop, Marion Lozano, Sofia Lanman, Rowan Niemisto, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresi, Jeffrey Miranda Organizations: The New York Times, Twitter, YouTube, Lamborghini, Netflix, Walmart, News, Producers, Meta, Instagram, COVID, Democratic, Washington Post, Apple, Republicans, Facebook, 4chan, Republican Party, Trump, Fox News, Stanford, Davis Locations: Hawaii, Reddit, Greenville , North Carolina, hysterics, New Jersey, New York, Greenville, North Carolina, Central, United States, Bay, San Francisco, Stanford

☆ Reddit users are boycotting the site for 48 hours, and Discord is perfectly positioned to pick up the slack
▼ + stars: | 2023-06-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Discord — a popular group chat app — is poised to pick up some slack from Reddit during this time. Originally developed for gamers, Discord has attracted a wide range of users including K-pop stans. It's unclear how many users joined since Reddit's blackout, but Discord had already been competing against Reddit even before the current blackout. It now attracts a wide range of forum users: including those interested in writing and K-pop. 7,266 subreddits are taking part in the blackout at the time of publication, according to a Reddit post.

Persons: Toptomcat Organizations: Morning, Reddit

☆ Explainer: Reddit protest: Why are thousands of subreddits going dark?
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +4 min

Subreddits such as r/Music, r/gaming, r/science and r/todayilearned - all with more than 30 million subscribers - are participating. Unlike most other social media platforms, Reddit is heavily dependent on community moderators, "or mods", who police their subreddits for free to weed out offensive or illegal content. What are third-party app developers saying? Elon Musk's Twitter in January restricted all third-party clients and apps and updated their rules for developers accessing its APIs. Reporting by Tiyashi Datta, Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Reddit, Steve Huffman, Christian Selig, Huffman, Elon, Tiyashi Datta, Akash Sriram, Jaspreet Singh, Devika Organizations: Apple Inc, Microsoft, New York Times, Elon Musk's Twitter, Twitter, Thomson Locations: Bengaluru

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