Steve Huffman, CEO of Reddit, recently indicated that the media site is planning to go public soon. He has not set a definitive timeline for this, but stated an IPO is a necessary action for a tech company to pursue. This was revealed during an Internet Association event in San Francisco.
When Huffman was asked if Reddit’s biggest competition was Facebook or Google, he very candidly stated, “We probably suck more hours out of work than any other company.”
Over the last two years, the company has seen its advertising increase five-fold, with a majority of its advertising coming from entertainment or media companies.
Answering a question on political ads from Russia and Syria, Huffman said that the company does not accept any ads from Russia or Syria. Additionally, the company is planning to implement a hate speech policy soon.