REDDIT (#REDDIT)

Special Reports - 15/03/2024

15 March, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

REDDIT (#REDDIT) INITIAL PUBLIC OFFERING (IPO) (EXPECTED FIRST DAY OF TRADING: MARCH 21, 2024)

SOCIAL NETWORKING

SOCIAL MEDIA MARKET SHARE: Facebook continues to lead with around 64% portion of the market, followed by Instagram and Pinterest, taking up a little over 9% each. YouTube takes up around 7.5%, while Reddit takes up around 0.55%. This is according to the Statacounter.com.

REDDIT

COMPANY: Reddit is the 19th most visited website on the internet and 6th most popular social media provider. Reddit allows anonymous posts, supporting honesty and transparency. Interestingly, posts can be voted by the community and the posts with highest votes generate greater authority.
FOUNDED: 2005
ACTIVE USERS: Reddit had around 70 million daily users in 2023 (UP by 13 million in 2022) and 850 million monthly users (UP from 2022’s 812 million). They have around 270 million weekly active users.
MONEY- GENERATION: Reddit makes money through advertising on the site. In recent quarters, it would make a quarterly ad revenue of around $200 million on average. The company also offers premium packages of around $5.99 a month.

REDDIT: ARTIFICIAL INTELLIGENCE

REDDIT CUTS A DEAL WITH GOOGLE: According to the Verge, Google is getting AI training data from Reddit as part of a new partnership between the two companies. A deal reportedly worth $60 million per year will give Google real-time access to Reddit’s data and use Google AI for Reddit’s search.

REDDIT: FINANCIALS

REVENUE IN FISCAL 2023: $810 million. This is still up from 2022’s $670 million.
NET LOSS IN FISCAL 2023: Reddit is not profitable company yet, reporting a loss of $90.8 million in 2023.
CASH: $1.2 BILLION.

REDDIT: PRICE ACTION

EXPECTED (IPO) OPEN PRICE: $31-$34 a share
IPO CAPITAL RAISE: $473.6 - $519.4 million.
MARKET CAPITALIZATION: $6.4 billion.
STOCK EXCHANGE: New York Stock Exchange (NYSE)
EXPECTED IPO DATE: MARCH 21.

INITIAL PUBLIC OFFERING (IPO): FIRST DAY OF TRADING

2000- 2023: AVERAGE FIRST DAY RESULT = 20.00%

Source: Nasdaq.com

IPOs OF SOME OTHER BIG TECH COMPANIES:

Data Source I: Bloomberg

Data Source II: MetaTrader 4 Platform

*- Current Prices From Market Close On March 14, 2024

Please note that past performance does not guarantee future results.

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