Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Reddit, an American social news aggregation, content rating, and forum social network, filed to go public. The company plans to trade on the NYSE under the ticker “RDDT”.</li>
<li>Reddit was founded in 2005 by Steven Huffman, Aaron Swartz and Alexis Ohanian. The company is forecasted to surpass $1B in total revenue in 2024.</li>
<li>They chose the right time to go public. I have a positive view of the upcoming Reddit IPO and looking forward to seeing them trade as a public company.</li>
</ul>


Reddit, an American social news aggregation, content rating, and forum social network, filed to go public. The company plans to trade on the NYSE under the ticker “RDDT”.
Reddit was founded in 2005 by Steven Huffman, Aaron Swartz and Alexis Ohanian. The company is forecasted to surpass $1B in total revenue in 2024.
They chose the right time to go public. I have a positive view of the upcoming Reddit IPO and looking forward to seeing them trade as a public company.


Reddit IPO: The Right Time To Go Public At A Reasonable Valuation

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>Reddit plans to price its IPO between $31 to $34 a share, which would suggest equity value of US$6.0 billion to US$6.5 billion on a fully diluted basis.</li>
<li>Our base case valuation of Reddit is implied market cap of US$7.9 billion or implied price of US$41.2 per share. </li>
<li>Given the moderate upside relative to the IPO price range, we have a Positive view of the Reddit IPO. </li>
</ul>


Reddit plans to price its IPO between $31 to $34 a share, which would suggest equity value of US$6.0 billion to US$6.5 billion on a fully diluted basis.
Our base case valuation of Reddit is implied market cap of US$7.9 billion or implied price of US$41.2 per share. 
Given the moderate upside relative to the IPO price range, we have a Positive view of the Reddit IPO. 


<ul>
<li>Reddit is getting ready for an IPO in the United States in the next several weeks. It is expected that this IPO will be completed in March. </li>
<li>The company was previously valued at US$10 billion in a funding round in 2021. It is expected that the company could sell about 10% of its shares in this IPO.</li>
<li>Reddit may be seeking a valuation of at least US$5 billion in this IPO, which would be nearly half its valuation it received in 2021 in a private funding round. </li>
</ul>


Reddit is getting ready for an IPO in the United States in the next several weeks. It is expected that this IPO will be completed in March. 
The company was previously valued at US$10 billion in a funding round in 2021. It is expected that the company could sell about 10% of its shares in this IPO.
Reddit may be seeking a valuation of at least US$5 billion in this IPO, which would be nearly half its valuation it received in 2021 in a private funding round. 


Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>If you pay attention, the Internet has been a bit different lately. Many of the attributes and ways we once interacted with the internet is changing.</li><li>I probably noticed it the most when one of my favorite websites, subredditstats.com showed me this image the other day.</li><li>Reddit’s free API is closing. But so is X (formerly Twitter), and other properties all around the internet are slowly adding limits and closing their doors.</li></ul>

If you pay attention, the Internet has been a bit different lately. Many of the attributes and ways we once interacted with the internet is changing.I probably noticed it the most when one of my favorite websites, subredditstats.com showed me this image the other day.Reddit’s free API is closing. But so is X (formerly Twitter), and other properties all around the internet are slowly adding limits and closing their doors.

Webtoon Entertainment / Equity Capital Markets

<ul>
<li>Webtoon Entertainment, a South Korean global storytelling platform and the world's largest digital comics platform, filed for an IPO in the United States.</li>
<li>The company offers 15M shares at a price range between $18.00 and $21.00, implying a market cap of roughly $2.5B at the midpoint based on 129.3M outstanding shares.</li>
<li>I have a positive view of the upcoming Webtoon Entertainment IPO and I think risk/reward is more favorable for IPO investors given the company’s improving profitability and strong cash position.</li>
</ul>


Webtoon Entertainment, a South Korean global storytelling platform and the world's largest digital comics platform, filed for an IPO in the United States.
The company offers 15M shares at a price range between $18.00 and $21.00, implying a market cap of roughly $2.5B at the midpoint based on 129.3M outstanding shares.
I have a positive view of the upcoming Webtoon Entertainment IPO and I think risk/reward is more favorable for IPO investors given the company’s improving profitability and strong cash position.


Webtoon Entertainment IPO: Favorable Risk/Reward IPO Valuation and Limited Downside Potential

United States

Reddit, Inc. operates as an online discussion platform. The Company publicizes online items recommended by members and aggregates news stories submitted by users. Reddit serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Reddit (RDDT US)

Reddit IPO: The Right Time To Go Public At A Reasonable Valuation

Reddit, an American iconic internet company, filed to go public. Given their massive TAM, loyal communities and scalable business, Reddit is bound...

Andrei Zakharov

Reddit IPO Valuation Analysis

Reddit plans to price its IPO between $31 to $34 a share, which would suggest equity value of US$6.0 billion to US$6.5 billion on a fully diluted...

Douglas Kim

Reddit IPO Preview

Reddit is getting ready for an IPO in the United States. Reddit may be seeking a valuation of at least US$5 billion in this IPO, which would be...

Douglas Kim

The Internet as You Know It Is Dying

Humans are not alone on the internet anymore. That will change the Internet as you know it. If you pay attention, the Internet has been a bit...

Fabricated Knowledge

Webtoon Entertainment IPO: Favorable Risk/Reward IPO Valuation and Limited Downside Potential

I see upside for Webtoon Entertainment shares and my implied equity value of ~$3.3B represents ~29% upside vs. expected IPO price range of $18 to...

Andrei Zakharov

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)