Reddit, the social media platform and community network, has filed a registration statement with the SEC in preparation for an initial public offering of its Class A common stock. Reddit has been a private company since its founding in 2005 and is one of the top 20 most visited websites in the world. The IPO is likely to boost its standing in the advertising market and the expected injection of capital could help refine its ad products, according to experts.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.