Technology
Reddit Confidentially Files for a Proposed IPO, Looking for Valuation Over $15 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.”
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.
Complete News Source : Hindustan Times
.jpg "Surfaces of the Motorola Edge 50 Ultra with Snapdragon 8S Gen 3")
Early this week, renders of the Edge 50 Fusion appeared, and Motorola has previously stated that the Edge 50 Pro will ship on April 3. The highest-end smartphone in the Edge 50 series, the Edge 50 Ultra, has now been shown in renders.
The phone is depicted in the renderings in peach fuzz and black with a vegan leather finish, while sisal, a beige color, will have a brushed surface. As opposed to the Snapdragon 7 Gen 3 in the Pro variant and the Snapdragon 6 Gen 1 in the Edge 50 Fusion, the phone is reportedly powered by the Snapdragon 8s Gen 3 SoC.
A 50MP primary camera, an ultra-wide camera, and a periscope telephoto camera with a 5x optical zoom are all included in the Motorola Edge 50 Ultra’s feature set. Additionally, there is a triple LED flash on the right side and a laser autofocus feature above the periscope lens.
Although the phone’s display, battery, and charging specifications are yet unknown, the Edge 50 Pro is said to include 12GB of RAM and support both 50W and 125W wired and wireless charging.
It is anticipated that this will launch as the Motorola X50 Ultra in China. It is unclear if the India launch may be expected on the same day as the rest of the Edge 50 series phones, even if this is scheduled to go official on April 3.
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