Reddit Prices Shares , at $34 in IPO.
Reddit will go public on March 21 and has priced
its IPO at $34 a share, Yahoo Finance reports.
That is about a $6.4 billion valuation.
A social media company hasn't gone
public since Pinterest in 2019.
Reddit gained increased recognition
amid the meme stock craze of 2021.
Reddit had 500 million site visitors in 2023.
Its revenue increased 20%
from 2022 to $804 million.
According to an S-1 filing, Reddit said that its "content is particularly important" for the world of artificial intelligence.
We are exploring business
opportunities in licensing data
for purposes including machine
learning, business analysis, display
and training generative AI models, Reddit, via S-1 filing.
1.76 million shares have been set aside for eligible Reddit users and moderators. .
Headline venture partner Kamran Ansar
said the decision lends itself to volatility. .
You may see a big run up in
the stock price and a drop, Headline venture partner Kamran Ansar, via statement.
Because this has such a rabid
community around it, the Reddit
users, you could see Reddit itself
ironically become a meme stock
the way that you saw happen
with like AMC and GameStop, Headline venture partner Kamran Ansar, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
RFK Jr Picks Nicole Shanahan , As His Running Mate.
On March 26, the presidential candidate announced that the 38-year-old ex-wife of Google co-founder Sergey Brin is his vice presidential pick, BBC reports. .
On March 26, the presidential candidate announced that the 38-year-old ex-wife of Google co-founder Sergey Brin is his vice presidential pick, BBC reports. .
On March 26, the presidential candidate announced that the 38-year-old ex-wife of Google co-founder Sergey Brin is his vice presidential pick, BBC reports. .
Kennedy introduced Shanahan as
"a fellow lawyer, a brilliant scientist, technologist, a fierce warrior mom.".
Kennedy introduced Shanahan as
"a fellow lawyer, a brilliant scientist, technologist, a fierce warrior mom.".
He went on to call his campaign "a spoiler for President Biden and for President Trump" that
will "forge an unstoppable coalition of homeless Democrats and homeless Republicans.".
Kennedy's independent bid was launched
in October after challenging Biden for
the Democratic nomination.
The Democratic National Committee has condemned Kennedy's bid, saying that he
will only help to draw votes away from
Biden, ensuring Trump's victory. .
Shanahan revealed that she had left the Democratic Party because it was consumed with "elitism" and "winning at all costs.".
I believe I am taking the best
ideals and impulses with me. , Nicole Shanahan, via statement.
Shanahan's professional
colleagues speak highly of her.
She's motivated by trying to change
things for the better and having an
impact on social benefits, Roland Vogl, executive director of Stanford University's
Center for Legal Informatics, via statement.
Don't undersell someone
who comes from outside a
system to change the system. , Bruce Cahan, a professional colleague, via statement.
Announcing Shanahan as his running mate
will likely help Kennedy get on more ballots.
He's currently only confirmed on Utah's ballot
Credit: Wibbitz Top Stories Duration: 01:31Published
Ron DeSantis Legalizes , Social Media Ban for Children.
The Florida governor signed the bill into law on March 25, 'The Guardian' reports.
It takes effect on January 1, 2025.
At that time, children under the age of 14 will not be allowed to have social media accounts in Florida.
14- and 15-year-olds will need parental permission
to have a presence on social media.
State House Speaker Paul Renner issued
a statement in support of the new law.
A child in their brain development doesn’t have
the ability to know that they’re being sucked
into these addictive technologies and to see
the harm and step away from it, and because
of that we have to step in for them, Florida House Speaker Paul Renner, via statement.
Renner also said that social media companies will likely "sue the second after this is signed.".
But you know what? We’re going to beat
them. We’re going to beat them and
we’re never, ever going to stop, Florida House Speaker Paul Renner, via statement.
Opponents argue that the new legislation is unconstitutional and a government overreach. .
This bill goes too far in
taking away parents’ rights, Anna Eskamani, Democratic state House representative,
via news release.
Instead of banning social media access,
it would be better to ensure improved
parental oversight tools, improved
access to data to stop bad actors, , Anna Eskamani, Democratic state House representative,
via news release.
... alongside major investments
in Florida’s mental health
systems and programs, Anna Eskamani, Democratic state House representative,
via news release
Credit: Wibbitz Top Stories Duration: 01:30Published
Fast Food Chains Warn Consumers , That Worker Pay Increases
Will Impact Prices.
'Newsweek' reports that franchises have
warned an increase of the minimum wage
for fast food workers in California could also
force menu prices to climb.
As of April 1, fast food restaurants in California
will have to pay employees at least $20 an hour, an
increase of four dollars from the current $16 an hour. .
Business owners have warned that the new law,
signed in by Democratic governor Gavin Newsom,
will have an impact on margins and consumer costs. .
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
According to McDonald's numbers, the price of
the signature Big Mac burger is currently $5.89
in California, the 10th highest in the United States.
The latest data compiled by 'The Economist' shows that
the average price of a Big Mac nationwide is currently
$5.69, which is up from $5.36 at the same time in 2023. .
Last year, McDonald's , reported net profits of , almost $8.5 billion.
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers. .
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers.
Credit: Wibbitz Top Stories Duration: 01:31Published
In Louisiana's presidential primary on Saturday (Mar 23), both US President Joe Biden and former President Donald Trump secured victories, further solidifying their positions after securing their respective party nominations. With no races hanging in the balance, the outcome merely reaffirmed their dominance over their major competitors. Biden collected the 48 delegates up for grabs for Democrats, and former President Donald Trump collected the 47 delegates for Republicans.
#Biden #Trump #LouisianaPrimary #PresidentialElection #ElectionVictory #PartyNominations #USPolitics #DemocraticParty #RepublicanParty #PoliticalContest #PrimaryElection #ElectionResults #CampaignTrail #PresidentialNominees #VoteCount #PoliticalLeadership #VictorySpeech #PoliticalMilestones #PoliticalSuccess #DemocraticProcess
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Bill Maher makes a super compelling case that pandering to racial groups is a sure way to lose elections ... because all these identities in America are now.. TMZ.com
McDonald's CEO , Talks Affordability , After Stock Prices Drop.
ABC reports that McDonald's has come under
fire by customers angry over recent increased
menu prices, which has prompted the CEO
to address the issue of affordability.
In the company's latest earnings call,
McDonald's CEO Chris Kempczinski discussed
the fast food chain's Q4 results, which were mixed.
In the company's latest earnings call,
McDonald's CEO Chris Kempczinski discussed
the fast food chain's Q4 results, which were mixed.
Global same-store sales were up 3.4%,
short of Wall Street expectations, while
domestic same-store sales were up 4.3%,
more closely aligned with "normalized growth.".
Shares in McDonald's dropped nearly
4% on the New York Stock Exchange after
the company's Q4 earnings were posted.
Shares in McDonald's dropped nearly
4% on the New York Stock Exchange after
the company's Q4 earnings were posted.
Kempczinski reportedly admitted that
the company's sales had dipped in
the wake of increased menu prices.
The fast-food chain noted reduced transactions
among lower-income customers making under
$45K a year, one of the company's core consumers.
Eating at home has
become more affordable.
The battleground is certainly
with that low-income consumer, Chris Kempczinski, McDonald's CEO, via ABC.
According to Kempczinski, customers may
have been forced to dine out less as prices
and inflation remain high for eating out. .
According to Kempczinski, customers may
have been forced to dine out less as prices
and inflation remain high for eating out. .
The CEO stressed that the company
remains in a good position with its
value menu offerings, while promising , "some activity at the local level to
make sure we continue to provide
value for the lower-income consumer.".
What you're going to see is
more attention to affordability.
Think about that as an absolute
price point, which is more
important for that consumer to
get them into the restaurants
than maybe value messaging.
We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC.
What you're going to see is
more attention to affordability.
Think about that as an absolute
price point, which is more
important for that consumer to
get them into the restaurants
than maybe value messaging.
We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC
Credit: Wibbitz Top Stories Duration: 01:31Published
In a historic shift in global markets, investors are pulling billions of dollars from China's economy, marking a turning point after two decades of considering China as the world's premier growth story. Wall Street giants, including Goldman Sachs Group Inc and Morgan Stanley, are now championing India as the prime investment destination for the next decade.
#WallStreet #India #China #GlobalInvestmentShift #IndiaInvestmentOpportunity #HedgeFundGoldRush #AsiaEconomicDivergence #IndiaGrowthStory #InvestingInIndia #CapitalFlowsIndiaChina #GlobalEquityMarkets #InvestorConfidenceIndia
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