Reddit announced the appointment of Patricia Fili-Krushel in its Board of Directors, replacing outgoing Sam Altman.
Fili-Krushel previously served as Chair of the NBCUniversal News Group, EVP, Administration at Time Warner Inc., CEO of WebMD, and President of both the ABC Television Network and ABC Daytime. More recently, she was the founding Co-Chair and served as CEO of Coqual, a global think tank and advisory service.
Reddit, founded in 2005, is a social media platform with recently announced 52 million active users. The company last summer raised USD 700m in new funding, valuing it at more than USD 10 billion. In December 2021, it was announced that Reddit has taken the first step to register at the stock exchange.
Reddit had also been very much in focus in early 2021, when small traders used the Reddit chat Wallstreetbets to boost the value of shares in GameStop making small investors winners and hedge funds and banks the losers.
The company has been heavily criticised for allowing racism in the platform, much in line with other social media, but unlike the others they are not doing anything to eliminate that:
Reddit CEO, Steve Huffman, even explicitly stated in 2018 that racism was not against Reddit’s rules, elaborating that “on Reddit there will be people with beliefs different from your own, sometimes extremely so.”