'Wow, This is Petty': Reddit Co-Founder Alexis Ohanian Feuds With Investor On IPO Day
Portfolio Pulse from Benzinga Neuro
On Reddit's IPO day, co-founder Alexis Ohanian publicly feuded with Initialized Capital, an early investor in Reddit, for not acknowledging him in their celebratory post. Despite the dispute, Reddit's IPO was successful, with shares opening at $47 and currently trading around $55, a 70% increase from the IPO price. The IPO was seen as a potential milestone for the tech industry, despite a preceding patent dispute with Nokia.
March 22, 2024 | 1:31 am
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Reddit's IPO was successful despite a public dispute between co-founder Alexis Ohanian and Initialized Capital, with shares rising 70% from the IPO price.
The public dispute between Reddit's co-founder and Initialized Capital on the IPO day did not deter the success of Reddit's IPO, with shares significantly rising from the initial price. This indicates strong investor confidence and interest in Reddit, suggesting a positive short-term impact on RDDT's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100