OpenAI’s Altman Listed as Major Reddit Shareholder in IPO Filing
- Altman briefly served as Reddit’s interim CEO in 2014
- Reddit is pushing into AI products and licensing deals
Sam Altman
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
OpenAI Chief Executive Officer Sam Altman is one of the biggest shareholders in Reddit Inc., according to the regulatory filing hailing the social media company’s plans for an initial public offering.
Entities affiliated with Altman hold 8.7% of Reddit’s outstanding shares, according to the S-1, which was made public Thursday. That includes 789,456 Class A shares and 11.4 million Class B shares. Reddit’s largest shareholder is Advance Magazine Publishers Inc., part of the Newhouse family publishing empire, with about a third of the voting power.