Reddit appoints first chief financial officer amid IPO reports
Reddit has appointed its first ever chief financial officer amid reports the company is considering a stock market float.
The social media site, which has been at the centre of a recent retail trading frenzy, has tapped former Snap executive Drew Vollero to lead its finance team.
Vollero, who was Snap’s first chief financial officer and also served at toy maker Mattel, will start later this month and report to chief operating officer Jen Wong.
It comes amid reports the messaging forum is preparing to go public.
Chief executive Steve Huffman told the New York Times the company was building its finance operations and “working towards” a stock market listing.
Reddit, the self-styled “front page of the internet”, has been in the spotlight in recent months after day traders on its forum sparked a huge rally in shorted stocks such as GameStop and AMC.
Reddit last month revealed its valuation had doubled to $6bn (£4.4bn) after raising $250m in a fresh funding round.
The firm today reported a 90 per cent increase in advertising revenue in the fourth quarter, while daily active users have increased to 52m.