Reddit Ropes In Former Snap Executive Drew Vollero As Finance Chief: Reuters

Social media platform Reddit, noted for the recent retail stock trading frenzy from ‘WallStreetBets’ forum, named former Snap Inc (NYSE: SNAP) executive Drew Vollero as its first CFO, Reuters reports.
Vollero’s appointment is well-timed with rising expectations of Reddit’s IPO, who guided Snap’s transition to a public company as the first finance chief.
Reddit reported a 90% surge in advertising revenue during the fourth quarter, as the daily active users jumped over 52 million.
The company’s popular WallStreetBets forum has contributed to the recent rally in many shorted stocks like GameStop Corp (NYSE: GME), AMC Entertainment Holdings Inc (NYSE: AMC), and multiple other mid-sized and previously unpopular companies.
Reddit’s value doubled to $6 billion in February, as it raised more money to handle new subscribers.
Vollero, who has also represented toymaker Mattel Inc (NASDAQ: MAT), will lead Reddit’s finance team starting later this month and report to COO Jen Wong.