The appointment comes weeks after the site was thrust into the media spotlight for its role in the GameStop trading frenzy.
Social media giant Reddit announced Friday that it had appointed Drew Vollero to the role of Chief Financial Officer—the first CFO in the company’s history—adding to speculation that Reddit is mulling the possibility of an initial public offering (IPO), something its executives have denied in the past.
Vollero previously worked as the first CFO at Snapchat’s parent company Snap, helping lead it to a $3.4 billion IPO in 2017. Most recently, he served as CFO of security firm Allied Universal.
“Drew is an industry thought leader who brings a track record of building a global finance organization for high growth companies,” Steve Huffman, co-founder and CEO of Reddit, said in a statement. “He will be a tremendous addition to our Executive Team, as Reddit continues accelerating our business and user growth.”
Reddit made headlines in late January when users of its WallStreetBets community drove a surge in the trading volume and prices of GameStop and other “meme” stocks.
After the frenzy subsided, Reddit announced it had raised a funding round worth more than $250 million from existing and new investors, valuing the company at $6 billion.
The company says it plans to use the fund to double the number of Reddit employees this year, as well as to invest in new advertising and consumer products and expand into international markets.
