Make Kitco Your Homepage

Reddit appoints Snap veteran Drew Vollero as CFO

Kitco News

(Reuters) - Reddit, the social media platform at the heart of the recent retail stock trading frenzy, said on Friday it had appointed Drew Vollero as its first chief financial officer.

Vollero, who served as Snap Inc’s first CFO and was a former executive of Mattel Inc, will lead Reddit’s finance team starting later this month and will report to Jen Wong, the company’s chief operating officer.

The company has been in the spotlight for its day-trading forum where individual traders recently triggered a rally in many shorted stocks, including GameStop and AMC.

Reddit also said on Friday it saw a 90% increase in advertising revenue during the fourth quarter, and daily active users grew to more than 52 million.

The appointment comes as the company is considering an IPO, the New York Times reported, citing Reddit’s Chief Executive Officer Steve Huffman.

Reporting by Akanksha Rana in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj Kalluvila

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.