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- Reddit considering IPO at $5B+ valuation, 6x its $0.8B 2023 revenue
Reddit considering IPO at $5B+ valuation, 6x its $0.8B 2023 revenue
Bay Area Times
January 29, 2024
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Top stories today:
- Reddit considering IPO at $5B+ valuation, 6x its $0.8B 2023 revenue
- Elon denies xAI is raising $6B at $20B valuation
- Google Bard (with Gemini Pro) now ranked #2 best LLM
- Arc Search on iOS brings Arc’s ‘answer engine’ to mobile
- Tech layoffs sum 25K in Jan., highest since Mar.
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Reddit considering IPO at $5B+ valuation, 6x its $0.8B 2023 revenue
$4.5B - $4.8B: price at which secondary shares are trading at.
March+ timeline, likely selling 10% of shares (previously reported).
2. Elon denies xAI is raising $6B at $20B valuation
The FT had reported as such on Friday.
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