The Verge: Reddit files to take the company public

The Verge: Reddit files to take the company public. “Reddit announced late Wednesday that it has started the process of taking the company public, by filing a confidential S-1 with the Securities and Exchange Commission. The number of shares to be offered, and the price range for the proposed offering haven’t been determined yet, the company said, adding that it was in a quiet period and could not provide further details for regulatory reasons, which is standard practice.”

The Guardian: Reddit reportedly hires bankers and lawyers as it aims for $15bn IPO

The Guardian: Reddit reportedly hires bankers and lawyers as it aims for $15bn IPO. “Reddit is seeking to hire investment bankers and lawyers for an initial public offering in New York, two people familiar with the matter told the Reuters news agency. Reddit was valued at $10bn in a private fundraising round last month. By the time the IPO would take place early next year, the online message board company is hoping it will be valued at more than $15bn, one of the sources said.”

CNET: Pinterest’s IPO shows the internet isn’t always as awful as you thought

CNET: Pinterest’s IPO shows the internet isn’t always as awful as you thought. “Pinterest has been around for nine years, having launched right around the same time as the first iPad, and back when Facebook was pulling in merely half a billion monthly users (it tops 2.3 billion today). But the social network that Sharp co-founded with CEO Ben Silbermann and Paul Sciarra, now a venture capitalist, is different from peers like Facebook, Instagram and Twitter. It’s not known as a place to get the news. It doesn’t have a robust way to message your friends. And it’s not trying to dream up whiz-bang new services and tech like livestreaming or virtual reality.”

TechCrunch: Browser maker Opera has filed to go public

TechCrunch: Browser maker Opera has filed to go public . “Norway-based company Opera Ltd. has filed for an initial public offering in the U.S. According to its F-1 document, the company plans to raise up to $115 million. In 2017, Opera generated $128.9 million in operating revenue, which led to a net income of $6.1 million.” Read the article for the details about who owns Opera now and how it split and which part of that split is going public.

Reuters: Chinese search engine Sogou’s U.S. IPO priced at $13/ADS

Reuters: Chinese search engine Sogou’s U.S. IPO priced at $13/ADS. “China’s second-largest search engine, said its initial public offering was priced at $13 per American Depositary Share (ADS), raising $585 million, The 45 million ADS offering, with each ADS representing one Class A ordinary share, was priced at the top end of the expected range of $11-$13.” At this writing stock SOGO is at $13.95.

Bloomberg: Tencent-Backed Sogou Aims for Up to $585 Million in U.S. IPO

Bloomberg: Tencent-Backed Sogou Aims for Up to $585 Million in U.S. IPO. “Sogou Inc., the Chinese search engine backed by Tencent Holdings Ltd., aims to raise as much as $585 million in a U.S. initial public offering. The company, born from the Chinese media company Sohu.com Inc., is marketing 45 million American depositary shares for $11 to $13 apiece, according to a filing Friday with the U.S. Securities and Exchange Commission. Sogou said it intends to use the proceeds for research and development and sales and marketing.”

LA Times: Snap’s nonvoting stock — everything sold in the IPO — is junk, investor says

Los Angeles Times: Snap’s nonvoting stock — everything sold in the IPO — is junk, investor says. “Los Angeles technology company Snap Inc.’s historic decision to go public last week with an issuance of only nonvoting shares sets a damaging precedent for the stock market, leading investors warned Thursday. The comments came as a government advisory group comprised of investor advocates began weighing whether to urge regulators to ban public companies from significantly curbing the power of certain shareholders.”

Los Angeles Times: Snapchat maker’s stock keeps falling — and analysts think it’ll drop even more

Los Angeles Times: Snapchat maker’s stock keeps falling — and analysts think it’ll drop even more. “Snap shares opened at $28.17 on Monday morning, up about 4% from their price at the close of market Friday and up 66% from the $17 price paid by investors in Snap’s IPO last week. But by Tuesday morning, the price had sunk to just above $22.

MarketWatch: Snap’s market cap surpasses Twitter, Hershey

Snap’s IPO performance is reminding me uncomfortably of 1998. From MarketWatch: Snap’s market cap surpasses Twitter, Hershey. “Snap, +1.80% the parent of Snapchat, started trading on the New York Stock Exchange Thursday and closed at $24.53, up 44% from its issue price, which gave it a public market capitalization of $28.4 billion. The closing market cap makes Snap more valuable than Hershey Co. HSY, -0.25% and Twitter Inc. TWTR, +0.00% among others.”

Harvard Business Review: If Snap’s Strategy Is Building New Products, It Won’t Live Up to Its IPO Price

Harvard Business Review: If Snap’s Strategy Is Building New Products, It Won’t Live Up to Its IPO Price. “In light of Snap’s IPO, there has been an immense amount of speculation about the long-term viability of the company’s strategy…. How should you interpret the viability of Snap’s strategy amid the many opinions? The cacophony of commentaries isn’t unique to Snap; it also infects the general view of digital and digital transformation. The conventional wisdom holds that every industry is being disrupted and all the rules have changed. But have they? A close look at the core ideas of technology strategy suggests that beneath the sound and the fury lies a set of fundamental principles that can guide leaders in making smart choices. These same principles can help cut through some of the confusion around the viability of Snap’s strategy. I’ll share four of these principles here.”

Billboard: Snapchat Company Values Itself at Up to $22 Billion Ahead of IPO

Billboard: Snapchat Company Values Itself at Up to $22 Billion Ahead of IPO. “The parent company of the social network Snapchat said in a regulatory filing Thursday that the IPO is likely to be priced between $14 and $16 per share. Had the IPO price matched the $30.72 per-share price obtained in its last round of financing, Snap would have a market value of about $30 billion, based on the quantity of outstanding stock listed in its IPO documents.”