Reddit's revenue grew 68% in the past quarter

- Reddit's Q3 2024 revenue rose 68% to $348.4 million - Net income was $29.9 million (year ago loss $7.4 million) - Revenue for Q4 2024 is expected to be $385-400 million - Number of active users grew 47% to 97.2 million - ARPU exceeded analysts' expectations, already totaling $3.58 - Reddit's share price nearly tripled after the IPO - At the close of trading, Reddit's valuation was $13.6 billion - Reddit shares rose 22% to exceed $100/share for the first time. - The company's financial results exceeded analysts' expectations

A year ago, OpenAI, Notion and X wanted to acquire startup Perplexity for $150-200M

- In the summer of 2023, the startup received three purchase offers at once - X, OpenAI and Notion wanted to acquire all of Perplexity - All offers valued Perplexity at $150-200 mln - Social network X was the most active in negotiations on the purchase. - X wanted to use its technology for search functions - Microsoft was also considering buying Perplexity - In the spring of 2024, Perplexity's val

Sequoia will make more than $100 million on the Stripe and Bridge deal

- Payments giant Stripe buys Bridge for $1.1 billion - Bridge is developing a crypto payment platform - Stripe will pay for Bridge in cash and its own shares - This is a rare victory for funds in the crypto startup market - The funds will recoup their investment in Bridge many times over - Among them: Sequoia, Index Ventures, Bedrock, Ribbit, etc. - It's also an unusually quick return for them - B

Reddit's revenue grew 68% in the past quarter

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A year ago, OpenAI, Notion and X wanted to acquire startup Perplexity for $150-200M

Sequoia will make more than $100 million on the Stripe and Bridge deal