Reuters

Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows

By Reuters,

14 days ago

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(Reuters) - Reddit co-founder and CEO Steve Huffman beneficially owns 62.4 million Class A shares of the social media company, a regulatory filing showed on Friday.

Those shares were equivalent to 61.5% of the share class, based on a calculation that includes factors such as the right to acquire more shares by exercising stock options and the conversion of Class B shares into Class A shares, according to the filing.

Reddit, whose initial public offering in March valued the company at $6.4 billion, will report quarterly results for the first time on Tuesday.

(Reporting by Akash Sriram in Bengaluru and Noel Randewich in Oakland; Editing by Alan Barona)

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