Reddit is likely to integrate cryptocurrency more into its marketing strategy after ensuring that demand for new bitcoin payment option, added by BuySellAds, is high.
Cathie Wood’s pivot towards RDDT and other stocks has generated considerable optimism among stock watchers about the asset’s future performance.
Under the collaboration with OpenAI, which contributed to the RDDT surge on Thursday, Reddit said it had selected the company as its advertising partner.
Reddit debuted on the New York Stock Exchange to eager traders as shares jumped significantly and closed close to 50%.
Reddit has confirmed its RDDT shares will trade at $34 at the IPO as the company hopes to raise $748 million from 22,000,000 shares.
Over the last weekend, MOON price surged to its all-time high in anticipation of Celer’s upcoming bidirectional bridging feature.
Reddit recently disclosed its crypto holdings as it is planning to sell its shares during the hotly anticipated IPO.
Reddit is targeting a price range of $31 to $34 per share, which could translate to a valuation of up to $6.5 billion.
In the filing, Reddit also mentioned its intention to offer shares to some of its most active users.
As part of the planned IPO Reddit intends to sell approximately 10% of its shares. And it is a decision that will significantly influence the final IPO valuation.
The planned IPO also poses a test for Reddit users to show their loyalty to the platform.
While crypto ended 2023 on a positive note, we look forward to the sector in 2024 and beyond, with the following predictions.
World ID Apps allow users to verify accounts and apply a verification status similar to the blue checkmark used on some social media platforms.
Reddit initially filed for an IPO in December 2021 and was expected to make its public debut the following March.
Starting from early November, Community Points will no longer be available. It means that beta participants will no longer see their points in their Vaults, and will no longer earn points in their communities.
Along with the Contributor Program, Reddit has announced an update to Reddit Gold – a paid feature that allows users to personalize their profiles.