Reddit Turns to Loyal Users in Unusual IPO Bet

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 21 February 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Feb. 21. Reddit wants to offer shares to 75,000 of its biggest users, in the hope they will boost its stock-market debut, according to people familiar with the matter. IPO reporter Corrie Driebusch explains the possible risks and rewards of the strategy. And the minutes from the Federal Reserve’s January meeting show more officials were concerned with cutting rates too soon as opposed to holding rates too high for too long. Plus, the vice president of Boeing’s 737 program is leaving the company. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	All the big names are here.
0:02.0	Oh, who is that?
0:03.2	I think she was in the movie about that really big shark.
0:06.0	No, not her.
0:07.0	The florist.
0:08.0	She's automating invoices on the go so she can spend more time on that flower wall. Quickbooks to save you up to eight hours a week,
0:15.0	so you could bring your vision to life.
0:17.0	That's how you business differently.
0:19.0	Into its Quickbooks.
0:20.0	The Fed Minutes show officials are concerned about making rate cuts too early and the
0:28.4	Boeing executive overseeing the 737 program is leaving the company.
0:33.0	Plus, Reddit bets on loyal users
0:35.3	in an unusual IPO move.
0:37.3	One thing that we've noted in the past
0:39.3	is that individuals aren't usually seen
0:41.8	as the most loyal stockholders. But Reddit is hoping that these
0:46.7	are loyal users of the sites, they're going to also be loyal shareholders going forward.
0:52.1	It's Wednesday, February 21st. I'm Anne Marie Fertoli for the
0:55.6	Wall Street Journal. This is the PM edition of What's News, the top headlines and
1:00.1	business stories that moved the world today. When will the Federal Reserve finally start cutting rates?
1:12.3	As the timeline shifts, we're learning from the
1:14.0	January Fed minutes out today that more officials signaled concern about cutting rates
	...

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