According to a recent filing with regulators, it was revealed that Steve Huffman, CEO and co-founder of Reddit, owns a significant portion of the company’s Class A shares. Specifically, Huffman owns approximately 62.4 million shares of this class, representing a substantial 61.5% stake.
The calculation determining Huffman’s ownership considers several factors, including his ability to acquire additional shares through stock options and the conversion of Class B shares to Class A shares, as described 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 for release next Tuesday.
Also read: US stocks: Wall Street set for bullish push after jobs report