Reddit shares priced at $34 in largest IPO by social media company in years

Platform to make its debut on New York stock exchange on Thursday with a market value of $6.4bn

Reddit will enter a new era as a publicly traded company with a market value of $6.4bn after the social media platform’s initial public offering was priced at $34 per share.

The price, announced late on Wednesday, came in at the top of the target range set by Reddit’s investment bankers as they spent the past few weeks gauging investor demand for the stock. It sets the stage for Reddit’s shares to begin trading Thursday on the New York stock exchange under the ticker symbol RDDT in the largest initial public offering by a social media company in years.

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Australian eSafety commissioner puts tech companies on notice over reports terror-related content still being shared

Julie Inman Grant has asked companies including Google, Meta and Telegram to explain how they are taking action against violent and extremist material

Australia’s online safety regulator has issued notices to Telegram, Google, Meta, Reddit and X asking how they are taking action against terror material on their platforms.

It is five years since an Australian murdered 51 people at two mosques in Christchurch in New Zealand, and broadcast the massacre on Facebook live. Australia’s eSafety commissioner, Julie Inman Grant, said she still receives reports that video and other perpetrator-produced material from terror attacks are being shared on mainstream platforms, although there were now slightly less on mainstream platforms such as X and Facebook.

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How social media’s biggest user protest rocked Reddit

A mass user protest six months ago over technical tweaks had big downstream effects, and now the ‘front page of the internet’ is changed for ever

In June, thousands of Reddit communities plunged into darkness – making their pages inaccessible to the public in a mass protest of corporate policy changes. Users of a social network lambasting it is nothing new; but Reddit’s moderators rebelled on a scale never seen before. Six months later, users and researchers say reforms sparked by the movement are still rippling through the social network, which bills itself as the “front page of the internet”.

The changes are a mixed bag, they say. The quality of the posts on the forum site has changed, some say, but the social network’s corporate parent appears more attentive, making changes long requested by users and moderators alike. The conflict with the company left Reddit’s denizens angry and skeptical, but many say they’re sticking around to see how things go with Reddit’s new normal.

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TikTok received more requests to remove child bullying posts than any other social platform in Australia

eSafety commissioner received 795 requests to remove alleged bullying of children from various social media platforms in past 18 months, with 309 from TikTok

TikTok received more requests from Australia’s eSafety commissioner to remove posts that bullied children in the last 18 months than any other social media platform.

Reddit received the most reports of people’s images being shared without their consent.

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‘Breeding grounds for radicalization’: Capitol attack panel signals loss of patience with big tech

Subpoenas are an escalation in the committee’s efforts for answers as companies ignored information requests

The House select committee investigating the January 6 insurrection at the Capitol has ordered several social media firms to hand over data relating to the attack, asignificant step toward transparency that could have broader privacy implications.

The committee on Thursday subpoenaed Twitter, Meta, Alphabet and Reddit for private messages exchanged on the platforms about the attack aas well as information regarding moderation policies that allowed communities to remain online even as they incited violence in early 2021.

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Reddit communities ‘go dark’ in protest over Covid misinformation

Some of site’s largest subreddits switch to private, saying Reddit is failing to tackle misinformation

Reddit has been hit by a user rebellion over the online discussion forum’s failure to tackle misinformation related to Covid and vaccines.

More than 135 Reddit communities, or subreddits, have “gone dark”, which blocks non-members from reading or joining the page, in protest at the site’s refusal to limit discussions that propagate misleading theories about the pandemic. The protest covers many of the site’s largest subreddits, including r/Futurology and r/TIFU, which have more than 10 million subscribers each.

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Hypnotic loops and self-soothing sounds: the rise of #OddlySatisfying and visual ASMR

As a subreddit devoted to strangely satisfying video clips grows into a behemoth, a new wave of digital artists are manufacturing their own

The subreddit r/oddlysatisfying has always had a wholesome mission: it collects small moments of magic in the world – “those little things that are inexplicably satisfying”.

It began in 2013, when people started sharing gifs of high-pressure hoses and industrial pasta cutters on Reddit. Eight years later, it has grown into an entire subsection of the internet: r/oddlysatisfying has 5.6 million members, and there’s a multi-platform “media network” of the same name. It curates content for a combined 3.44 million followers across YouTube and TikTok. Videos with the hashtag #oddlysatisfying have clocked up 25.9bn views on TikTok alone.

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GameStop shares plunge as traders dump stock

Reddit-inspired surge in stocks such as struggling video games store and AMC dive as hedge funds close positions

Shares in GameStop plunged by 65% in early trading on Wall Street as the trading mania sparked by small investors, that sent its stock surging and cost hedge funds billions of dollars, lost momentum.

The struggling Texas-based video game store chain has been the focal point of a battle by small traders, using forums such as Reddit, to punish Wall Street hedge funds that have bet on certain stocks falling in value. GameStop shares hit a high of $482 last Thursday but slumped to $80 shortly after the market opened. They recovered to $117 by mid-session, but closed down 60% at $90.

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WallStreetBets’ founder on GameStop: ‘I didn’t think it would go this far’

The Reddit forum is at the center of a war between Wall Street and an army of small investors over the store – and Jaime Rogozinski is still getting to grips with it

Jaime Rogozinski always knew WallStreetBets, the Reddit forum he founded, was part of something big – but even he wasn’t prepared for quite how big.

Related: GameStop: how Reddit amateurs took aim at Wall Street’s short-sellers

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GameStop shares plunge after ban by Robinhood app

Meteoric rise fizzles out after small investors are barred from trading in groups that had soared in value

Small investors mounting an assault on Wall Street speculators suffered a setback on Thursday as trading platforms banned them from buying more shares in GameStop, spawning conspiracy theories, political intervention and at least one lawsuit.

Amateur trading app Robinhood stopped users from investing any further in GameStop – a US chain of video games stores – and seven other companies on Thursday, after an extraordinary rise in their value, spurred by users of the chat forum website Reddit, that cost some hedge funds billions of dollars.

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GameStop: how Reddit amateurs took aim at Wall Street’s short-sellers

Analysis: Understanding short-selling enabled amateur traders to beat hedge funds at their own game

The co-ordinated effort by users of the online forum Reddit to drive up the share price of GameStop and other companies is designed to turn the screw on short-sellers.

To the layman, the dynamics at play here can seem dizzyingly labyrinthine.

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White House ‘monitoring’ GameStop share surge as US hedge fund pulls out

Melvin Capital Management had bet on failure of store before small investors sent shares soaring

The White House has said it is “monitoring” the extraordinary surge in the share price of ailing video games retailer GameStop and other companies amid a surge of bets by small investors discussing their investments online.

Wednesday’s announcement by the press secretary, Jen Psaki, came as the Treasury and the Securities and Exchange Commission said they were “aware of and actively monitoring the ongoing market volatility in the options and equities markets”.

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Blocked: how the internet turned on Donald Trump

From Facebook and Twitter to Reddit and Amazon, tech firms are moving to silence the president, and his QAnon supporters

Twitter’s decision to suspend Donald Trump’s account on Wednesday evening has opened the floodgates for tech companies and platforms to remove the outgoing US president from their services.

Twitter’s suspension was followed by Facebook, which a day later announced the move would be “indefinite”. Twitter then announced a “permanent” suspension of Trump’s account.

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Opinion divided over Trump’s ban from social media

Actions spark debate on free speech and whether chief executives of tech firms are fit to act as judge and jury

As rioters were gathering around the US Capitol last Wednesday, a familiar question began to echo around the offices of the large social networks: what should they do about Donald Trump and his provocative posts?

The answer has been emphatic: ban him.

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AITA? How a Reddit forum posed the defining question of our age

Every day, people leave their quandaries on the Reddit website – asking others to judge whether they were in the wrong. As religion wanes, are we crowdsourcing our ethics?

First of all, you need to picture the sandwich.

This was a 6ft-long party sub from a local deli, with loaves of bread braided together to make one super-sandwich – nearly twice the standard width, and loaded with fillings. It would have comfortably fed 20 to 25 people, and there were far fewer coming over to watch the fight.

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Leaked NHS papers ‘put online by posters using Russian methods’

Questions about dissemination of documents do not mean they are fake, but poses new puzzle

Leaked documents said by Labour to prove that the NHS was “on the table” in trade talks with the US were initially disseminated online by anonymous posters operating in a way similar to a Russian information operation known as Secondary Infektion, according to a social media research firm.

A 19-page report published on Monday by the consultancy Graphika said that while it could not conclusively prove a Russian origin to the leak, the early distribution of the cache of files via Reddit, three German-language websites and an anonymous Twitter account reflected a method of operation seen repeatedly over recent years.

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Reddit ‘quarantines’ its biggest pro-Trump message board

Visitors to the subreddit The_Donald will see warning about its ‘encouragement of violence towards police and officials’

Reddit has taken steps to “quarantine” the largest pro-Donald Trump community on its site, The_Donald, due to “repeated rule-breaking behavior” and, in recent days, “encouragement of violence towards police officers and public officials in Oregon”.

Visitors to the The_Donald message board, which describes itself as “a never-ending rally dedicated to the 45th President of the United States, Donald J Trump” and has more than 750,000 subscribers, will be greeted with a message about the reasons for the quarantine before they can click through to the site. The quarantine also restricts the message board, known as a subreddit, from generating revenue and limits its popular posts from reaching an audience in other parts of Reddit.

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Radiohead release hours of hacked MiniDiscs to benefit Extinction Rebellion

Thom Yorke describes hours of recordings from OK Computer sessions as ‘not v interesting’, while climate activists thank the band for ‘unprecedented support’

Radiohead have released a vast collection of unreleased tracks made during the sessions for 1997 album OK Computer, after a MiniDisc archive owned by frontman Thom Yorke was hacked last week by an unnamed person, who reportedly held the recordings to ransom for $150,000.

The band have now made the 18 MiniDisc recordings, most of them around an hour in length, available on Bandcamp for £18. Proceeds will go to climate activists Extinction Rebellion.

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Tourists visiting San Francisco question if they’re in ‘bad side of town’

Recent social media posts by tourists visiting San Francisco casts a troubling light on the City by the Bay over its homeless issue, open drug use and filthy streets. Since the beginning of the year, reports have surfaced of hypodermic needles dotting the streets, piles of human feces and expanding shanty towns for the increasing homeless population -- and now tourists are noticing, SFGate reported.