Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

<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. 


Reddit

Reddit IPO Valuation Analysis