ed: reddit chief operating officer jen wong, we are grateful for your time on listing day. n: thank you. thanks for having me. caroline: ed, that was a nice way to finish up the conversation with her. like a wedding day. we will also be talking about ai a little bit more too. investing in so much more. sequoia capital partner konstantine buhler is with us. we are going to be going to break now. this is "bloomberg technology." ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. ed: this is "bloomberg technology." you are looking at a live shot of the principal room. coming up, briand l

in the conversation we had with jen wong, we know you have to go back in six months time and say, how did they do? the story continues to be elsewhere. apple, doj, antitrust lawsuit against them. in thursday's session it had a material impact on the stock. you can see we are sort of recovering in the session, but i still think it was notable that finally there was a headline about antitrust relating to apple and there was a clear stock reaction thursday. what happens next is the big question. it's bring in mark gurman, chief correspondent covering apple. what has changed in the last 24 hours? do we have any signals for how apple is going to respond? mark: reading to the lawsuit reveals a lot. the department of justice had been working on the case for so long that i would say about 60% to 70% of their major points are things that have already been resolved. apple doesn't believe, of course they would say this, that the case holds much water. they don't believe they are a monopoly. they seem to find it perplexing that the government is trying to position them as a monopoly, whereas they

jen wong is up there in terms of individual -- individual shareholders as well.a break on the reddit conversation. you guys will stay with us because we are counting down, the latest news we have as to where the shares may actually price is indicated to open it $50-$52 and the price to 30 food dish at $34 last night. a big premium when it comes to the indicated price. we will continue to follow this story. it is a big week also for monetary policy. let's talk about the overall market and the fallout from the fed decision as traders adjust their positioning to expected rate cuts. talk me through what we are seeing in the bond market. we got the decision, the press conference and yields fell and now we are right back up there. >> stocks keep plowing higher kind of like all in on soft landing. the bond market is rethinking. we had some data that unemployment claims was a little low. the prices paid was a little high so i think the market of bonds is having a worse day than yesterday but just a little re-think. bond traders have to trade in every nuance. the stock ma

we really started to build the business of reddit, and that hit high gear in 2018, really, when jen wongoined as c.o.o., and she's really been my partner in running reddit and building this business. but we were -- we made a profit in the back half of 2023. we grew revenue three times as fast as costs last year, and so what's, i think, beyond the community of reddit and the platform of reddit is actually a very nice, special business here. our gross margins are very high. the high 80s and have been for a long time. so, even small improvements in revenue go straight to the bottom line for us, so this is truly, i think, a special company in profitability is -- you know, it's an important milestone for us, and we're getting closer and closer. >> i know jim has a question as well for you. jim? >> first, steve, thank you for being on the set. it's fantastic. >> thanks, jim. great to see you. >> absolutely. i wanted to know, you know, when you and i talked, it's just really important, i believe, that people who have been so important to your company, that the redditors get stock if they want s