Reddit announced the appointment of Drew Vollero as first Chief Financial Officer. Vollero will report directly to COO Jen L. Wong. In his new role, Vollero will focus on building out the finance team across all areas including tax, treasury, audit, financial planning, sales finance, accounting, procurement, and investor relations. Vollero will lead Reddit’s Finance team…
Reddit has raised $250 million in Series E funding led by venture capital firm Vy Capital. Other investors include Andreessen Horowitz, Sequoia Capital and Tencent. The company will use the funding to make strategic investments in areas such as video, advertising, consumer products and international expansion. The proceeds will also be used to double its…
Social network firm Reddit announced that it would buy short-video platform Dubsmash. Post acquisition, the co-founders Suchit Dash, Jonas Druppel and Tim Specht, will join Reddit. Reddit is an online platform, enabling its users to submit links, create content, and have discussions about the topics of their interest. The financial terms of the deal were…
US-based social news website, Reddit’s co-founder Alexis Ohanian recently announced that he will step down from the company’s board. He further expressed his desire that the company replace him with a candidate from the black community showing support for the ongoing protests in the US over racial inequality. Ohanian is married to seven-time Wimbledon champion…