“Secondary Data Suggests Reddit’s Public Debut at $5B”

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If Reddit prices too high out the gate, it loses out on potential buyer interest and could trade down from its IPO valuation instead of building momentum. Reddit’s most recent primary round in 2021 raised $410 million at a $10 billion valuation from investors, including Fidelity, Quiet Capital and Montauk Ventures, among others. The market has obviously changed since then, and going out at that $10 billion valuation wouldn’t be smart. What happens nextThe $5 billion valuation that Reddit may pursue is not risk-free. Reddit offering shares to its top users is likely a ploy to avoid the stock entering meme-trading territory, Martin said.

“The Fourth Successful Launch of Firefly’s Alpha Rocket to Orbit”

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Firefly Aerospace sent its Alpha rocket to orbit this morning, with the company carrying a payload from Lockheed Martin to space. Today’s launch marks the fourth-ever flight of Firefly’s Alpha rocket. The rocket was carrying Lockheed’s demonstrator payload, called the Electronically Steerable Antenna (ESA) technology demonstrator, to low Earth orbit. From there, the Lockheed Martin payload should have been deployed. For that mission, Firefly had just 24 hours to complete final launch preparations, encapsulate the payload and mate it to the rocket.