Reddit CEO Owns Majority of Class A Shares, Filing Reveals
Steve Huffman's Stake in Reddit Company Shares Detailed in Regulatory Filing
According to a recent filing submitted to regulatory authorities, it has been disclosed that Steve Huffman, the CEO and co-founder of Reddit, possesses a significant portion of the company's Class A shares. Specifically, Huffman holds approximately 62.4 million shares of this class, representing a substantial 61.5% ownership stake.
The calculation determining Huffman's ownership considers various factors, including his ability to acquire additional shares through stock options and the conversion of Class B shares into Class A shares, as outlined in the filing.
Following Reddit's successful initial public offering (IPO) in March, which valued the company at $6.4 billion, investors and analysts are eagerly awaiting the company's first quarterly financial report, scheduled to be released this upcoming Tuesday.
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