Condé Nast's owners, the Newhouse family, who control the media empire through Advance Publications, are poised to receive a windfall of approximately $1.4 billion as Reddit goes public on the NYSE. This windfall is the result of an early investment in Reddit that has seen a remarkable 3,700% gain.
The billionaire Newhouse family made an early bet on Reddit. It's paid off with a 3,700% gain. https://t.co/qlLjbBJY1u
The billionaire Newhouse family made an early bet on Reddit. It's paid off with a 3,700% gain. https://t.co/FzY94TBcaQ
.@CondeNast Owners Set to Reap a $1.4 Billion Windfall From @Reddit https://t.co/obFz1Q19Wy The Newhouse family, the media dynasty that controls Condé Nast through its holding company, Advance Publications, is set to reap a windfall of roughly $1.4 billion on Thursday when the…
The Newhouse family, the media dynasty that controls Condé Nast through its holding company, Advance Publications, is set to reap a windfall of roughly $1.4 billion on Thursday when Reddit is listed on the New York Stock Exchange. https://t.co/OkkmtP0npI
Condé Nast’s Owners Set to Reap a $1.4 Billion Windfall From Reddit https://t.co/Sk7nzUfnFU