Mmastodon BusinessBusiness first seen 7 h ago, last 38 min ago, peak #3
SmartNews plans December IPO at sharply reduced valuation
Original: SmartNews is planning an initial public offering in December at a fraction of its previous valuation, according to peopl
SmartNews is preparing an initial public offering in December, according to people familiar with the matter, but at a fraction of the valuation it once commanded. Reports link the drop to the news aggregator's business being decimated by AI, which has cut traffic to news apps as users increasingly get information directly from AI tools.
Why now: The December IPO plans and the AI-driven collapse in its valuation are newly reported, making it a talking point about AI's impact on news businesses.
Rank over time, top of the chart is #1. 10 snapshots from 7 h ago to 38 min ago.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/2375925