(Reuters) – Reddit, the social media platform at the heart of the recent frenzy of retail stock trading, said on Friday that it had appointed Drew Vollero as its first chief financial officer.
Vollero, who was Snap Inc’s first CFO and former Mattel Inc executive, will lead the Reddit finance team from the end of this month and will report to Jen Wong, the company’s chief operating officer.
The company has been in the spotlight for its day-trading forum, where individual traders have recently spiked many short stocks, including GameStop and AMC.
Reddit also said on Friday that it saw a 90% increase in advertising revenue during the fourth quarter, and daily active users grew to more than 52 million.
The appointment comes at a time when the company is considering an IPO, the New York Times reported, citing Reddit CEO Steve Huffman.
(Reporting by Akanksha Rana in Bengaluru; edited by Krishna Chandra Eluri and Sriraj Kalluvila)