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Reddit Passes Snap -> A ~12% stock rally on November 5 lifted Reddit's market cap to $21.5B, making Reddit more valuable than Snap, which has 4x as many users and 4x as much revenue But I shared the other day how relying on Google traffic so heavily could be a serious problem… https://t.co/JXe2P46Cug
A ~12% stock rally on November 5 lifted Reddit's market cap to $21.5B, making Reddit more valuable than Snap, which has 4x as many users and 4x as much revenue (@mvpeers / The Information) https://t.co/BtZHcEGCGp 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/6rCyj4M6Cv
Reddit in 2024: • Launches IPO (+140%) • Posts record-high DAUs (97 million) • Market cap: $6.4 billion --> $21.5 billion 20 years old and aging like a fine wine https://t.co/yO0IQ6qUV2
Reddit's stock has surged significantly, now trading at three times its IPO price from March 2024, reflecting robust user and advertising growth. Following a notable 12% rally on November 5, Reddit's market capitalization reached $21.5 billion, surpassing Snap's valuation despite Snap having four times more users and revenue. The platform has also reported record-high daily active users (DAUs) of 97 million, contributing to its increased market value, which has jumped from $6.4 billion to $21.5 billion since its IPO. Analysts are questioning whether Reddit's valuation, currently at $22 billion, is justified compared to Fidelity's $9 billion valuation of its own asset, X.