Reddit employs a CFO and explores an IPO.
The first CFO of Snap Inc., Vollero, 55, oversaw the social media company’s first public offering. He formerly held the position of CFO at Allied Universal, the biggest provider of security and facilities services in the nation.
According to Steve Huffman, co-founder, and CEO of Reddit, “Drew is an industry thought leader, who has a track record of developing a worldwide finance department for fast growth firms.” He will be a fantastic addition to our executive team as Reddit keeps growing its user base and company.
Sandra Chu, who oversees Reddit’s policies concerning safety and corporate communications, added to this by saying that “when the time is perfect, being a public corporation is a possibility for Reddit.”
Reddit is moving forward quickly, according to the Chu, both in terms of hiring and releasing the most goods ever. The firm is currently concentrated on sustaining that good growth and making sure we’re assisting our users in building and maintaining healthy communities as well as offering efficient advertising options for companies.
The firm is considering going public, but Huffman, one of the co-founders along with Serena Williams’ wife Alexia Ohanian, did not provide a date in an interview with the New York Times that was published on Friday.
“We’re deliberating it. That’s what we’re striving toward,” he told the media source.
The news comes about a month after Reddit revealed it had secured more than $250 million in Series E investment, valuing the company at $6 billion overall.