In 2012, Amazon founder Jeff Bezos was asked by TV host Charlie Rose whether his e-commerce company would ever venture into brick-and-mortar stores. Bezos said shoppers were well-served by existing physical retailers and that Amazon wasn’t interested in launching a “me-too” product. “We want to do something that’s uniquely Amazon,” Bezos said. “If we can … Read more
Uber on Tuesday reported second-quarter earnings results that topped Wall Street estimates. The stock rose about 6% at the market open. Here’s how the company did for the period ending June 30, compared with what Wall Street was expecting based on a survey of analysts by LSEG: Earnings per share: 47 cents vs. 31 cents expected … Read more
Microsoft CEO Satya Nadella (R) speaks as OpenAI CEO Sam Altman (L) looks on during the OpenAI DevDay event in San Francisco on Nov. 6, 2023. Justin Sullivan | Getty Images Microsoft has given up its observer seat on OpenAI’s board. Apple, which was reportedly expected to take a similar observer position, will no longer … Read more
Pedestrians pass the Nasdaq MarketSite in New York, US, on Tuesday, Jan. 2, 2024. Michael Nagle | Bloomberg | Getty Images Silicon Valley is known for producing tech businesses that start in garages and turn into massive publicly traded companies ubiquitously known across the globe. From Oracle and Microsoft to Google and Facebook, the public … Read more
Following a long period of waiting, “the IPO market’s back.” That’s according to Colin Stewart, Morgan Stanley’s global head of technology equity capital markets. In an interview with CNBC’s “TechCheck” on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even “better year” in store … Read more
Reddit shares jumped 48% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. Reddit and selling … Read more
The New York Stock Exchange welcomes Reddit, Inc. (NYSE: RDDT) to celebrate its initial public offering. To honor the occasion, Snoo, rings the Opening Bell®. NYSE Wall Street’s tech IPO bankers may finally have a reason to break out the champagne after an extended drought was broken up this week with the market debuts of … Read more
Reddit mascot Snoo is seen on the floor of the New York Stock Exchange (NYSE) as Reddit begins trading in New York on March 21, 2024. Timothy A. Clary | AFP | Getty Images OpenAI CEO Sam Altman says he has no equity in the $80 billion artificial intelligence startup he co-founded in 2015. His … Read more
Reddit said on Friday that the Federal Trade Commission sent a letter to the company about its data-licensing business related to the training of artificial intelligence systems. “On March 14, 2024, we received a letter from the FTC advising us that the FTC’s staff is conducting a non-public inquiry focused on our sale, licensing, or … Read more
OpenAI CEO Sam Altman speaks at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images OpenAI CEO Sam Altman will be in a position to make millions after Reddit goes public, thanks to a series of bets on the online discussion board company that go back … Read more
