August 26, 2016 12:32 AM ET

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Company Overview of Advance Publications, Inc.

Company Overview

Advance Publications, Inc. publishes magazines, publications, and newspapers. It also offers cable television and publishes material online. It owns Condé Nast Publications, Parade Publications, Fairchild Publications, American City Business Journals, and the Golf Digest Companies. The company was formerly known as Staten Island Advance Company, Inc. and changed its name to Advance Publications, Inc. in December 1949. The company was founded in 1922 and is based in Staten Island, New York.

950 West Fingerboard Road

Staten Island, NY 10305

United States

Founded in 1922

Phone:

718-981-1234

Fax:

718-981-1456

Key Executives for Advance Publications, Inc.

Chief Financial Officer
Age: 62
President of Advance Local
Senior Vice President of Strategy and Corporate Development
Age: 50
Compensation as of Fiscal Year 2016.

Advance Publications, Inc. Key Developments

Reddit Reportedly Seeks Investors; Andreessen Horowitz And Sequoia potential Buyers

Advance Publications, Inc.’s portfolio, Reddit, Inc. is planning to raise funds. Sources said that the company has reached a preliminary agreement to sell less than 10% of the stake for more than $50 million. That could give the company a valuation of upward of $500 million. According to the news report, potential investors may be Andreessen Horowitz LLC and Sequoia Capital. Some individuals associated with Y Combinator may also be among potential suitors. Sources stated that Advance Publications may continue to hold 50% stake in Reddit. The repot mentioned that Reddit; Y Combinator; Founder, Alexis Ohanian and Advance executives declined to comment.

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