From the filing document for the IPO to access Reddit’s stock market, the prominent online community platform, there is intriguing information about the list of major shareholders of Reddit. Included in this list is Sam Altman, the CEO and co-founder of OpenAI, who holds shares in Reddit amounting to a total value of 8.7% of all shares before the IPO. These shares are divided into Class A shares at 4.5% and Class B shares (with voting power 10 times) at 9.3%.
Altman ranks as the third largest shareholder of Reddit, with the media conglomerate Advance Publications being the top shareholder at 30.1% (having previously acquired Reddit and spun it off). The second spot is held by Tencent, the prominent Chinese internet company, at 11.0%. Meanwhile, CEO and co-founder Steve Huffman holds 3.3% of the shares.
Sam Altman has previously served as the chairman of the board of Reddit and briefly as CEO in 2015 after a community uprising led to the resignation of then-CEO Ellen Pao, prompting Huffman to return as CEO. Altman later resigned to focus on AI-related projects up to the present.
Source: The Hollywood Reporter
List of Major Reddit Shareholders Before IPO
TLDR: The filing for Reddit’s IPO reveals Sam Altman, CEO of OpenAI, as a major shareholder with 8.7% of shares, alongside Advance Publications and Tencent holding significant stakes. Altman’s involvement in Reddit’s leadership history adds depth to the shareholder landscape.
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