Insights
About
About

Startup News: Reddit mulling IPO with a value of at least $5 Billion

In early discussions with potential investors, the social network company Reddit is considering an initial public offering that could value the company for at least $5 billion, according to well-placed sources interviewed by Bloomberg.

“The ultimate figure will depend on the IPO market’s nascent recovery, the people said,” according to Bloomberg. Sources told Bloomberg that a listing on a U.S. exchange could take place as early as March.

Bloomberg reported that recent private trades of Reddit’s unlisted shares both on the platforms of Forge Global and Rainmaker Securities have valued the company at between $4.5 billion and $4.8 million.

Founded in 2005, San Francisco-based Reddit is a social network of more than 100,000 communities that allows users to explore many hobbies and other interests, including investing in meme stocks. In December, Forge Global wrote that Reddit was one of five companies setting the stage for an IPO this year.

Elon Musk’s Neuralink implants device in human brain

Brain science startup Neuralink has achieved a major milestone, implanting a device in a human brain for the first time, according to the firm’s famous co-founder, Elon Musk.

In a short two-sentence statement last week on social media site X, Musk wrote that “the first human received an implant from @Neuralink and is recovering well. Initial results show promising neuron spike detection.”

Neither Musk nor the company provided further details on the patient or the nature of the implant.

The news comes eight months after the company reportedly received Food and Drug Administration approval to conduct its first clinical study on humans.

Founded in 2016, Neuralink, based in Fremont, Calif., is creating devices that are aiming to help cure a variety of neurological diseases and disorders, from Parkinson’s to paralysis. These devices will be implanted in the skulls of patients, with thin wires fanning out into their brains. The company’s last known valuation, as of August 2023, was $3.45 billion.

Inari’s latest funding values AgTech company at $1.65B

Inari Agriculture has announced that it has received $103 million in fresh funding, bringing its total amount of equity raised to more than $575 million.

According to a company press release, the funding round was backed by existing investors including the Canada Pension Plan Investment Board, Rivas Capital, the State of Michigan Retirement System, and company founder Flagship Pioneering. The Cambridge, Mass.-based company also received funding from new investors including RCM Private Markets fund, advised by Rokos Capital Management.

In the release last week, the company added that the latest funding round “signals confidence in Inari’s ability to develop and commercialize higher-yielding seeds that require fewer resources, using AI-powered predictive design and multiplex gene editing."

Founded in 2016, Inari uses technology to develop corn, soybean, wheat, and other seeds that require less water, land, and even fertilizer than conventionally grown crops. The company’s mission is to “push the boundaries of what is possible for a more sustainable, nature-positive food system.”

According to Bloomberg, the company’s latest funding round values the company at $1.65 billion. That exceeds the $1.5 billion valuation the company was reportedly valued at in October 2022, Bloomberg wrote at the time.

Please Read These Important Legal Notices & Disclosures

The information and material presented in this article is provided for your informational purposes only and does not constitute an offer by Forge Europe GmbH or Forge Europe UK Limited or any of its affiliates to sell, or a solicitation of an offer to buy any securities and may not be used or relied upon in connection with any offer or sale of securities.

If you are a resident or a company registered within Germany this content is for marketing purposes only and on behalf of Forge Europe GmbH of Unter den Linden 38, 10117 Berlin, Germany (registered in the District Court Berlin (Charlottenburg) HRB 240763). Forge Europe GmbH is a tied agent in accordance with §3 (2) WpIG and provides investment brokerage, pursuant to §2 (2) Nr. 3 WpIG, exclusively in the name, on the account and under the liability of Effecta GmbH, Florstadt. If you are resident or a company registered within the United Kingdom or Gibraltar this content is for general marketing purposes only and not a financial promotion on behalf of Forge Europe UK Limited of 10 York Road, London, SE1 7ND, England (registered in England and Wales with company number 14877431). Forge Europe UK Ltd is an Appointed Representative of Sapeno Partners LLP which is authorised and regulated by the Financial Conduct Authority.

Forge Europe GmbH and, its wholly owned subsidiary, Forge Europe UK Limited (together “Forge Europe”) accept liability to a client as set out in the individual agreement entered into with the client. All other liability to any client is expressly excluded to the fullest extent permitted by applicable laws and regulations. Each Forge Europe company expressly excludes all liability to the fullest extent permitted by applicable laws and regulations to any person who is not a client. You will only be a client if you have entered into a written client agreement with the relevant Forge Europe company. To the extent information about or defining specific terms is provided herein, Forge Europe makes no representations as to its accuracy and has no duty to update such information. Such information is based on experience Forge Europe and its affiliates and the meanings and connotations of terms as Forge Europe typically uses and interprets them. Others may construe such terms differently, and you should do your own research and consult with financial, legal and tax professionals regarding any such concepts included herein.

This article does not constitute an offer to provide investment advice or service. Forge Europe does not (1) advise any member on the merits or prudence of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative, involving a high degree of risk, and investors should be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and investors should conduct their own, independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or investment advice. Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment. Past performance Is not indicative of future results.

This material may be distributed to, or directed at, only the following persons: (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FP Order”), (ii) high-net-worth entities falling within Article 49(2) of the FP Order, and (iii) any other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “FPO Relevant Persons”). Persons who are not FPO Relevant Persons must not act on or rely on this material or any of its contents. Any investment or investment activity to which this material relates is available only to FPO Relevant Persons and will be engaged in only with FPO Relevant Persons. Recipients must not distribute, publish, reproduce, or disclose this material, in whole or in part, to any other person. This content is for the sole use of the intended recipient(s). Any unauthorized review, use, disclosure or distribution is prohibited.