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Reddit Confidentially Files for a Proposed IPO, Looking for Valuation Over $15 Billion

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3 years ago

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Reddit Confidentially Files for a Proposed IPO, Looking for Valuation Over Billion

The social media company Reddit announced that it has secretly applied for an initial public offering (IPO). The document was submitted to the US Securities and Exchange Commission on Wednesday.

Reddit did not disclose the number of shares to be offered for sale or the price range of the IPO in its statement. It has not disclosed the valuation it will seek in the IPO. However, Reuters reported in September that Reddit’s valuation will exceed $15 billion.

As of October last year, Reddit had approximately 52 million daily active users and more than 100,000 communities, or “sub-Reddit.”

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On one such sub-Reddit, WallStreetBets, users almost immediately began to discuss the company’s move to introduce an IPO. Some users worry that the stock listing marks the beginning of the end of Reddit’s freewheeling culture, while others see opportunities for more fun-and potential profits. Surveillance is clearly a problem. “KetoIsRacist” predicted “large-scale censorship.” At the same time, “wearethesamewave” is convinced that the company has added advertising to show that change is coming.

Reddit was founded in 2005 and has become one of the most influential social media companies in the world over the years. The site provides message boards on various topics.

Since its inception, Reddit has experienced a roller coaster. It was founded by Steve Huffman and Alexis Ohanian, but was acquired by Condé Nast in 2006. This changed the structure of the company to differentiate it from other contemporary social media such as Twitter and Facebook.

Hoffman returned to the helm in 2015, but before Reddit experienced some other CEOs.

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Complete News Source : Hindustan Times

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SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad

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2 months ago

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November 6, 2024

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SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad

SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.

SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.

In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.

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Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.

“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.

“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.

SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.

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On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.

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