Reddit shares rose 48 percent on Thursday in their first day of trading, in a sign of investor eagerness that set the stage for more tech companies to reach the stock market this year. Shares of the social media company began trading on the New York Stock Exchange at $47 after pricing at $34 on…
The internet has not been kind to Condé Nast, the publisher of starry magazines, like Vogue and Vanity Fair, whose fortunes and influence have waned in the digital age. But while the web taketh, it occasionally giveth, too. The Newhouse family, the media dynasty that controls Condé Nast through its holding company, Advance Publications, is…
Reddit on Wednesday priced its shares at $34 for its initial public offering, two people with knowledge of the matter said. The pricing was at the high end of expectations, in a sign of investor demand for growing tech companies. The San Francisco-based social media company had estimated that its shares would be priced at…
Reddit, the community-focused message board site, took a significant step on Thursday toward going public, paving the way for it to be the first major social media company to debut on the stock market in years and a test for private companies after a drought in initial public offerings. In an offering prospectus, Reddit revealed…
