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Reddit says it has filed with SEC to go public

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Reddit says it has filed with SEC to go public


Reddit says it has submitted a draft registration with the US Securities and Exchange Commission to go public – Copyright AFP Eva HAMBACH

Social media platform Reddit said Wednesday it has confidentially submitted a draft registration with the US Securities and Exchange Commission to go public on Wall Street.

Reddit Inc said in a statement that it has “confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the ‘SEC’) relating to the proposed initial public offering of its common stock.”

The company said it had not yet determined the number of shares that will be offered nor the price range for the stock.

“The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions,” added the company, which did not made the registration form public.

Created in 2005 by two students from Virginia, the discussion platform was bought in 2006 by Conde Nast, which publishes magazines such as Vogue, The New Yorker and Vanity Fair.

The company became an independent subsidiary in 2011.

The platform announced in August that it had raised $700 million during a fundraising campaign led by Fidelity Management, which valued the network at more than $10 billion.

Reddit showed its influence in January 2021, when an army of small-time stock traders, communicating on its pages, rocked Wall Street by betting against the stocks that had gone viral like those of the video store chain GameStop.



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Meta Adds Instagram Audience Targeting for Facebook and IG Ads

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Instagram Outlines Update Visual Elements to Better Connect with its Purpose

This could be a very handy option for social media managers – Meta is currently rolling out the capacity to run ads on Facebook and Instagram that target your Instagram followers.

As you can see in this image, shared by media buyer Corey Henke, now, you can target your ads to people who follow your IG account within your campaign setup, giving you a whole new audience to consider in your promotional process.

Which might not sound like much – and it probably also sounds like something that’s been available for some time. Right?

But it isn’t.

As noted by Meta ads expert Jon Loomer, up till now, you’ve been able to create a custom audience of your Facebook followers, but not your Instagram audience. That’s made it virtually impossible to focus on your IG followers specifically – which is generally, for most brands, much different to their Facebook following.

So, you can now use this as an ad targeting option, to reach people who’ve shown interest in your products on IG with your offers and promotions, while you can also use it as your source for a Lookalike Audience.

There’s a range of options here, and it’ll definitely come in handy for many marketers.

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