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.”
Los Angeles Times: Justice Department and SEC drop investigation of Snap. “According to a regulatory filing published by the social media company Wednesday morning, U.S. authorities have officially dropped investigations into whether Snap misled investors about the threat posed by Facebook-owned Instagram at the time of its IPO.”
Reuters: Snap reveals U.S. subpoenas on IPO disclosures. “The U.S. Justice Department and Securities and Exchange Commission have subpoenaed Snap Inc (SNAP.N) for information about its March 2017 initial public offering, the social media app maker told Reuters on Tuesday.”
CNBC: Pinterest nears $1 billion in ad sales and valuation rises as it looks to go public in mid-2019
CNBC: Pinterest nears $1 billion in ad sales and valuation rises as it looks to go public in mid-2019. “Pinterest has taken a long time to justify its monstrous private market valuation. However the social media company is finally approaching $1 billion in ad revenue as it pushes toward an IPO in mid-2019, according to people familiar with the matter.”
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.
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.”