Reddit has hired Andrew (Drew) Vollero as its first CFO as the company prepares to go public.
Reddit has been steadily working towards an IPO, recently becoming more transparent about its user base. In December, the company reported it had 52 million daily users in October. Previously, the company had only reported its monthly user base.
The company is now taking the next step, hiring Vollero to help it prepare to go public. Vollero comes from Allied Universal, the largest US security and facility services firm. Prior to his work at Allied Universal, Vollero was Snap’s first CFO during its IPO.
“Drew is an industry thought leader, who brings a track record of building a global finance organization for high growth companies,” said Steve Huffman, co-founder and CEO of Reddit. “He will be a tremendous addition to our Executive Team, as Reddit continues accelerating our business and user growth.”
Reddit is much smaller than its social media rivals, but its growth rate far exceeds them. This makes it an attractive option for advertisers, and could set it up for a public offering sooner rather than later.