Social Media Giant Reddit ? Files For IPO ?

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Social Media Giant Reddit ? Files For IPO ?

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On December 15, social media platform Reddit announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO).

Reddit did not disclose the price range or number of shares to be offered in the statement. Moreover, the company also did not disclose the valuation it would see in the IPO.

Founded in 2005, Reddit is one of the world’s most influential social media companies with around 52 million daily users and more than 100,000 active communities or sub-reddits.

In the second quarter of 2021, Reddit generated advertising revenue of $100 million, a nearly 200% increase from the last year.

The company is now seeking to push deeper into the audio and video market, where ad rates tend to command a premium.

More details of Reddit’s finances and operations will be reported later in a public filing if it continues to pursue an IPO.

Crypto Ads Banned ? by UK’s Advertising Standards Authority

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The U.K. advertising watchdog- Advertising Standards Authority (ASA) has banned seven cryptocurrency ads in the United Kingdom following the concerns that several ads fail to clearly express the risks of investing in digital assets such as bitcoin.

The ASA has issued numerous rulings on ad violations involving various crypto-related companies like Coinbase, eToro, Kraken, Exmo, Coinburp, and Luno crypto exchange. The advertising watchdog also issued a similar ruling for pizza chain Papa John’s.

According to the rulings, all seven advertisements were banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk involved in investments.

Earlier in May, the ASA took similar action on another advertising campaign of Luno exchange. The ASA had also banned an ad campaign by Coinfloor exchange.

This latest regulatory move by the ASA comes after a number of similar rulings made by the advertising watchdog this year, indicating that the authority is actively watching and closing down misleading crypto ads.

Google’s Area 120 Launches Qaya to Create Web ? Storefronts For Creators ?️

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Tech giant Google’s Area 120 has launched a new app that is specially designed to allow creators to monetize their online presence, with direct links to a digital storefront.

With this new product, creators can sell whatever they like by using several payment methods.

Dubbed as ‘Qaya’, the product helps creators to put together attractive and responsive digital storefronts, which they can then link to from other apps and platforms like YouTube Merch Shelf and also integrate with Google Search and Google Shopping.

With these stores, creators can sell things like digital art, photos, files, e-books, productivity templates, videos, knitting patterns, and so much more. Google says that a single storefront can host up to 1,000 products.

In addition, Google Pay is built into Qaya, and it also supports a variety of monetization types like subscription, tipping, and one-time payments.

Currently, Qaya is free to use as monetization is managed on a transactional basis. With this, creators will keep the majority of the revenue they generate from products they upload and sell on the platform.

Crypto Payment ? Startup Ramp Raises $53 Million

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Ramp, a crypto-fiat gateway payments startup has raised $53 million in its Series A funding round.

The funding was led by Balderton Capital and also participation from existing investors Seedcamp, NFX, Galaxy Digital, Firstminute Capital, alongside a few angel investors.

Founded in 2017 by Szymon Sypniewicz and Przemek Kowalczyk, Ramp is a crypto-fiat payments startup allowing its partner brands to offer crypto-enabled services.

The company prides itself on taking a responsible and ultimately long-term approach to bringing the benefits of crypto to numerous users.

With the help of its non-custodial, full-stack payment infrastructure, the company opens up digital assets to more users and businesses.

Ramp has more than 400 partners including Opera Browser, Mozilla, Axie Infinity, Dapper Labs, Trust Wallet, among others. It also has regulatory approval in the United States, United Kingdom, and Poland.

In the future, Ramp may also allow crypto transactions for financial institutions and banks within their banking apps.

Moreover, the startup could also unlock new use cases, which were until recently impossible to launch because of some technological limitations.

Around the Web ?

Ether Worth $33.5 Billion is Trapped in Largest Ethereum Contract: One of the world’s single largest Ethereum contracts having 8,641,954 Ether worth $33.5 billion, is sitting idle as it cannot be spent or sent. According to a Twitter user, the Beacon chain contract is the largest Ethereum contract with billions of dollars worth of ETH trapped inside it.

Wonder Dynamics Raises $10 Million in Series A Round: AI-powered VFX startup Wonder Dynamics has raised $10 million in a Series A funding round. The round was led by Horizon Ventures led and also saw participation from seed round investors Founders Fund and MaC Venture Capital.


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