Meta Platforms Inc. (META)

Index:

Nasdaq 100

$ 504.22
   
  • Change Today:
    $-15.34
  • 52 Week High: $527.34
  • 52 Week Low: $281.53
  • Currency: US Dollars
  • Shares Issued: 2,211.00m
  • Volume: 15,855,137
  • Market Cap: $1,114,830m

Reddit will raise up to $700m in fresh financing

By Alexander Bueso

Date: Thursday 12 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Reddit is set to tap investors for $700m in fresh capital with the help of Fidelity Management.
If successful, that transaction amount would imply a roughly $10bn valuation for the social media website.

Citing the company, Reuters reported that Fidelity had already invested $410m.

The $10bn valuation paled in comparison to Facebook's $1trn, but Reddit only had 52m daily active users, against almost 2bn at Mark Zuckerberg's company.

The company did however nearly triple its advertising sales during the first three months of 2021 to over $100m.

Other Reddit investors included venture capital outfit Andreessen Horowitz, Sequoia Capital, and Tencent Holdings.

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META Market Data

Currency US Dollars
Share Price $ 504.22
Change Today $ -15.34
% Change -2.95 %
52 Week High $527.34
52 Week Low $281.53
Volume 15,855,137
Shares Issued 2,211.00m
Market Cap $1,114,830m

What The Brokers Say

Strong Buy 25
Buy 24
Neutral 8
Sell 2
Strong Sell 0
Total 59
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Trades for 28-Jun-2024

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16:00 200 @ $503.92

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