Social Media Giant Reddit 馃 Files For IPO 馃殌

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ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

Available in audio (roioverload.sounder.fm) or video (youtube.com/c/scottdclary).

Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making news today. The social media giant Reddit files for an IPO. CRYPTO ADS are banned in the UK, as per UK's Advertising Standards Authority. Google's area one hundred and twenty launches Chaia to Create Web Store Fronts for creators, and the CRYPTO payment start up ramp raises fifty three million dollars. Let's jump right into it. So first story of the day. Social media giant Reddit files for an IPO. On December fifteen, read, it announced that it has confidentially submitted a draft registration statement on forms one with the SEC or securities and Exchange Commission relating to the proposed initial public offering. Read. It did not disclose the price range or number of shares to be offered in the statement. The company also did not disclose the valuation it would see in the IPO. Founded in two thousand and five. Read. It is one of the world's most influential social media companies, with around fifty two million daily users in more than one hundredzero active communities or subreddits. In the...

...second quarter of two thousand and twenty one read it generated advertising revenue of one hundred million dollars and nearly two hundred percent increase from last year. Companies now seeking to push deeper into the audio and video market it 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 the company continues to pursue an IPO. Crypto ads have been banned in the UK. So the UK advertising watchdog, Advertising Standards Authority, or ASA, has banned seven cryptocurrency ads in the United Kingdom following the concerns as several ads failed to clearly express the risk of investing in digital assets such as Bitcoin. The ASA has issued numerous rulings on ad violations involving various cryptorelated companies like coin based Etro, Krack in exmo coin, burp and Luno crypto exchange. The advertising watchdog also issued a similar ruling for the...

Pizza Chain Papa John's. According to the ruling, 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 other aver on another advertising campaign put on by the Luno Exchange. The ASA had also a banned an ad campaign by the coin floor exchange as well. The latest regulatory move by the ASA comes after a number of similar ruling is made by the advertising watchdog earlier this year, indicating that the authority is actively watching and closing down any sort of misleading cryptoads. Google, they are launching Kaia, so this is Google's area. One why they launching KIA? To Create Web Store Fronts for creators. So the tech gine is launched a new APP that is specifically and specially designed to allow creators to monetize their online presence with direct links to a digital storefront. With its new product, creators can sell whatever...

...they like using several payment methods. It's dubbed as Kia. The product help creators put together attractive and Responsive Digital Store Fronts, which they can then linked 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 large photos, files, ebooks, productivity templates, videos, knitting patterns, basically anything you want. Google says that a single storefront can host up to one thousand products. In addition, Google pay is built into Kaya and it also supports a variety of monet station types, like subscription, tipping and one time payments. Currently, K 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 the upload and sell on the platform. And lastly, the crypto payment platform ramp just raise fifty three million bucks. Obviously, crypto is not slowing down and all of these startups are still having a not super easy, but easy enough time raising money. So ramp is a Crypto fiad gateway payment start up. They've raised fifty three million bucks in...

...a series a funding round. The finding was led by Balderton capital and also saw participation from existing investors seat camp, Nfx, Galaxy digital first met a capital, alongside a few angel investors. Founded in two thousand and seventeen by Zimon Benia wicks and Pres Mac Kowal Zik, ramp is a crypto Fiat payment start up, 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 health of its non custodial full stack payment infrastructure, the company opens up digital assets to more users and businesses. Ramp has more than four hundred partners, including the Opera Browser, Mozilla, axe, axe, infinity, dapper labs, trust wallet and 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. More over, the startup could also unlock new use cases which were recently impossible to launch because of certain technological limitations. And another news from around the Internet ether were thirty three point five billion dollars is trapped in the largest etherium contract. So one of the world's single largest etherium contracts, having eight that eight million, six hundred forty one thousand nine hundred fifty four. Theorreyum worth thirty three point five billion dollars, is sitting idle as it cannot be spent or sent. According to a twitter user, the beacon chain contract is the largest etherium contract, with billions of dollars worth of f trapped inside it, and wonder dynamics raised ten million dollars in a series a round. So the AIPOWERED vfx start up, wonder dynamics, is raised ten million in the series a funding round. The round was led by Horizon Ventures let and also saw participation from seed round investors founders fund and Mac venture capital.

...anyways, that is it for today. Hope you enjoyed if you found value in this, share this with one other person. They can go subscribe for daily business, Tech and Finance News that newsletter dot Roy overloadcom. Have a great day. I'll see it's the.

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