Reddit Finally Goes Public

Social media giant Reddit filed to go public today. Today Reddit approaches the public markets with more than $800 million worth of revenue in 2023, up from $666.7 million in 2022. In 2022 Reddit generated a net loss of $158.6 million, and adjusted EBITDA of negative $108.4 million. That figure includes a massive $410 million Series F raised in 2021 and a smaller $368 million Series E raised earlier the same year. That makes it worth roughly 7.5% of its 2023 revenue, a very nice tailwind for its 2024 results.

Ex-YouTube Chief Susan Wojcicki Endures Heartbreaking Family Crisis

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Earlier this week, the 19-year-old son of former YouTube CEO Susan Wojcicki, was found dead at UC Berkeley of an apparent drug overdose, according to his grandmother, Esther Wojcicki. The news broke widely yesterday, though Wojcicki posted the news to Facebook several days ago, writing: “Tragedy hit my family yesterday. Esther Wojcicki told the Palo Alto Daily of her grandson’s passing, “Kids in college, especially freshmen and sophomores, experiment with everything. I didn’t have the opportunity to interview Wojcicki while she held one of the most prestigious CEO posts in the world. I love kids, I love work and I think at some level I just love creating things and building.

The Enduring Power of NFT Communities: Weathering Both Love and Hate

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Love ’em or hate ’em, NFTs can survive thanks to the communities that drive themNFTs have suffered everything from ridicule and scams to a broad dip in demand due to the crypto winter. Sometimes it almost feels like some of the projects in the space are kept going simply on hopes and dreams. Most people are holding on to their NFTs regardless of their monetary value, according to Yat Siu, co-founder and executive chairman of Animoca Brands. Making money from NFTs validates their holders’ conviction, but Siu thinks there are more important factors driving the persistent ownership. “It’s not a crazy idea, but NFTs make [the experience] more powerful by bonding them together.