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Advance Publications

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"Reddit's IPO Windfall Raises Uncomfortable Questions for Investors"

Originally Published 1 year ago — by CNN

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Source: CNN

Advance Publications, the parent company of Condé Nast, made a $2.1 billion windfall from Reddit's IPO, raising questions about potential layoffs at Condé Nast amidst the financial gain. The company has faced a sustained downturn in digital advertising and tensions with its union, prompting concerns about the optics of layoffs while reaping billions from the IPO. The situation has sparked renewed protests and contract negotiations with the union, as employees call for investment in job security.

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"Reddit IPO: Key Takeaways and Forecast for Potential Investors"

Originally Published 1 year ago — by The New York Times

Featured image for "Reddit IPO: Key Takeaways and Forecast for Potential Investors"
Source: The New York Times

The Newhouse family, owners of Advance Publications and Condé Nast, are set to gain a windfall of around $1.4 billion as Reddit prepares to go public. This substantial return stems from a 2006 investment of $10 million in the social media platform. Despite recent challenges faced by Condé Nast and its layoffs, the impending Reddit listing is expected to reward the Newhouse family's early investment in the company.

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