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Reddit Aims for $6.4 Billion Valuation in U.S. IPO, Targeting $748 Million Raise

Reddit plans to sell around 22 million shares between $31 and $34 apiece to fund up to $748 million for its U.S. Initial Public Offering IPO, with a v

Reddit plans to sell around 22 million shares between $31 and $34 apiece to fund up to $748 million for its U.S. Initial Public Offering IPO, with a valuation of up to $6.4 billion. Even with the lofty valuation, it is less than the $10 billion that Reddits 2021 financing brought in. Reddit was established in 2005 and today has 100,000 "subreddits," or forums, where users may debate a wide range of subjects. Reddit, which gained notoriety in 2021 for its "memestock" controversy, has set aside 8% of its shares for moderators and qualified users due to possible market volatility. Despite having a substantial user base of 73.1 million daily active "uniques," Reddits IPO is being closely watched due to concerns over content control and financial difficulties. Read More..

B2B Tech News | 1 months ago

Bitcoin Surges to Record High Above $72,000 Amidst ETF Inflows

Monday saw Bitcoin reach a record high above $72,000, continuing its unstoppable ascent. The cryptocurrencys price increased 4.4% to $72,649 from its

Monday saw Bitcoin reach a record high above $72,000, continuing its unstoppable ascent. The cryptocurrencys price increased 4.4% to $72,649 from its peak of $72,739. This spike is linked to anticipation of a possible Federal Reserve interest rate decrease and a rush of money into brandnew spot bitcoin exchangetraded funds. Bitfinex analysts highlighted the markets ongoing confidence and demand by pointing out Bitcoins power and endurance. Despite a modest slowdown, capital flows into U.S. spot bitcoin exchangetraded funds hit around $2 billion. The price increase is also fueled by anticipation of Bitcoins impending halving event in April, which will restrict supply. Asset managers are seeing a rise in demand for digital asset trading instruments, such as exchangetraded notes backed by cryptocurrency, despite regulatory worries holding a record bullish position in bitcoin futures. Other cryptocurrencies, like Ether, also saw gains, driven by speculation of potential approval for spot E Read More..

B2B Tech News | 1 months ago

Japan Bolsters LNG Supply with Investments in Australia, U.S. Projects

As contracts with major LNG suppliers, such as Russia, end, Japan is bolstering its longterm supply by funding projects in Australia and the US. The l

As contracts with major LNG suppliers, such as Russia, end, Japan is bolstering its longterm supply by funding projects in Australia and the US. The largest power generator in Japan, JERA, has purchased a share in Woodside Energys Scarborough project, underscoring attempts to find dependable supplies in the face of global unrest. Japanese utilities aggressively seek collaborations, stressing supply dependability from allies, despite political problems like increased emissions regulations in Australia and restrictions on US LNG export licences. This move underscores a strategic shift in Japans LNG purchase policy. It is consistent with growing collaboration among G7 nations in the wake of Russias invasion of Ukraine over energy security. Read More..

B2B Tech News | 1 months ago

IMF to Assess Impact of Drought on Zambias Economy

The current droughts effects on Zambias economy and budget will be evaluated by the International Monetary Fund IMF during a visit to the country in m

The current droughts effects on Zambias economy and budget will be evaluated by the International Monetary Fund IMF during a visit to the country in midApril. There is a drought in 84 of Zambias 116 districts, and the rainy season ends early in late January. The drought, which significantly impacts hydropowerdependent electrical supplies and agricultural production, was designated a national catastrophe by President Hakainde Hichilema. Due to low rainfall, maize, a significant crop, failed to grow, leaving many smallscale farmers needing something to harvest. Since smallscale farmers provide crops for over 70% of Zambias population, food scarcity concerns are shared. Although the Zambian Grain Traders Association recommends current food security, Oxfam alerts people to severe food shortages that will impact six million people till the next planting season. Read More..

B2B Tech News | 1 months ago

South Africas Economy Narrowly Avoids Recession in Q4 2023

According to Statistics South Africa, the country just escaped a technical recession in Q4 2023, with the GDP expanding by just 0.1% following a 0.2%

According to Statistics South Africa, the country just escaped a technical recession in Q4 2023, with the GDP expanding by just 0.1% following a 0.2% drop in Q3. After growing by 1.9% in 2022, the annual GDP shrank to 0.6% in 2023. Estimates for GDP growth in 2024 range from 0.7% to 1.5%, which is insufficient to alleviate the high unemployment, poverty, and inequality rates. These matters are vital because, on May 29, the nation will have hotly contested elections. For the first time since apartheid ended, analysts believe the ruling African National Congress ANC may lose its parliamentary majority due to worries about how to handle social and economic issues. Read More..

B2B Tech News | 1 months ago

InterAmerican Development Bank IDB Doubles Investment Capacity with $3.5 Billion Boost

To double its size in the upcoming years, the InterAmerican Development Bank IDB has approved a $3.5 billion capital boost for IDB Invest, its private

To double its size in the upcoming years, the InterAmerican Development Bank IDB has approved a $3.5 billion capital boost for IDB Invest, its private sector arm. With this increase, it will be better able to support initiatives that address global concerns like mitigating climate change and reducing poverty. With the infusion, IDB Invest hopes to increase the resources it allocates yearly from the current $8 billion to about $19 billion. Furthermore, the board of governors approved using up to $400 million for IDB Lab, which supports venture capital and innovation projects. When taken as a whole, these initiatives seek to increase the IDB Groups financial capacity to $112 billion over the next ten years, essential for tackling the socioeconomic issues facing the area in the face of climate change. Read More..

B2B Tech News | 1 months ago

ECB Keeps Interest Rates Steady Amid Softening Inflation

For the fourth meeting in a row, the European Central Bank ECB held interest rates constant. This was expected given the lower inflation and economic

For the fourth meeting in a row, the European Central Bank ECB held interest rates constant. This was expected given the lower inflation and economic growth estimates, which increased expectations for possible rate reduction beginning in June. The Governing Council emphasised its commitment to supporting inflation, returning to the 2% objective, as the deposit rate stayed at a historic low of 4%. A little drop in the euro and a rise in monetary easing expectations were among the markets reactions. Additional details on the rate adjustment timeframe will be revealed at the ECB President Christine Lagardes subsequent press conference. Policymakers are waiting for additional information before making any changes to monetary policy, even as their fears about inflation are waning. In the meantime, international equivalents such as the Bank for International Settlements and the Federal Reserve take a similarly cautious approach to monetary policy and inflation. Read More..

B2B Tech News | 1 months ago

Report Reveals Challenges in Africas Artisanal Fishing Sector

According to research by Noël Tadégnon, while having abundant marine resources, Africas artisanal fishing industry has several difficulties, such as

According to research by Noël Tadégnon, while having abundant marine resources, Africas artisanal fishing industry has several difficulties, such as child labour, subpar working conditions, and unlawful exploitation. In the meantime, the depreciation of the Ugandan Shilling since the beginning of the year has been 4%, a result of increased demand from offshore investors and inflows of commodities, indicating continued instability in the currency markets. Positively, according to a survey by the African Development Bank Group, Africa is poised to lead the world economy in 2024, with eleven of its countries ranking among the top 20 fastestgrowing in the world. This indicates the continents strong economic future. Read More..

B2B Tech News | 1 months ago

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