February 23 news, at a critical moment when Reddit moves to the New York Stock Exchange, this social media giant disclosed some of the key details inside the outside world for the first time.This information includes its main source of income is advertising business, equity structure, and the companys strategy to use artificial intelligence as its growth momentum.
On Thursday, US time, Reddit submitted an S-1 file to the US Securities and Exchange Commission (SEC), which is an important step in its IPO (first public offering) process.This file not only shows the financial status, potential risks and business priorities of Reddit, but also introduces the companys ownership structure in detail.
As can be seen from the file, OPENAIs CEO Sam Altman is one of the major shareholders of Reddit and has 8.7%of the companys shares.This includes 4.5%of A -shares (789,456 shares) and 9.3%of Class B (11,400,000 shares), making him the third largest shareholder of Reddit, second only to the NewHouse Family media group Advance Group, Advance Group,Tencent.
Advance holds a slightly higher share of Reddit, and Tencent holds about 11%of the shares, both of which are important investors in Early Reddit.Although Ultraman was also an early investor of Reddit, the specific shares he held have not been made public.
The relationship between Ultraman and Reddit is long.He and Reddit co -founder Steve Huffman and Alexis Ohanian were the first members of the entrepreneurial incubator Y Combinator.After the former CEO Huang Yishan left, Ultraman even briefly served as a temporary CEO of Reddit.
He once said: "Although it is interesting to be a Reddit CEO for 8 days, I am glad that they are about to end." After that, he also hired temporary CEO Ellen Pao (Ellen Pao)Essence
According to financial data, the total revenue of Reddit in 2023 reached 804 million US dollars. The advertising business was the main source of its revenue, contributing $ 788.8 million.Although the companys net loss last year was $ 90.8 million, in the prospectus, Reddit emphasized the key driving force for artificial intelligence as the companys future growth.
"Our content is extremely important for artificial intelligence, it constitutes the foundation of many leading large-scale language model training." Reddit wrote in the S-1 file.
The companys current CEO Steve Hofman further emphasized this in a letter: "Reddit is the largest, most authentic and updated humans on the InternetOne of the experience libraries. Our data will continue to grow and regenerate with the communication of users. As the world rely more and more to rely on data, we are people -oriented and experienced data solutions.Advantages and intellectual property rights will continue to be a key component of future big language model training. "
It is worth mentioning that although Ultraman is no longer a member of the board of directors of Reddit, heThe in -depth attention to artificial intelligence is closely related to the future vision of Reddit.Reddit recently signed a $ 203 million data license agreement, of which $ 66 million will be paid in 2024. Partners include Google, which is using Reddits data to train its Gemini model.
In terms of salary, although Hoffmans total salary in 2023 is as high as US $ 193.2 million, it is mainly in the form of stocks and options.EssenceIn contrast, his basic salary is slightly more than $ 341,000.
After the iPO is completed, the Newnes family will occupy two seats in the Reddit board of directors, including Bob Sauerberg, the current director Bob Sauerberg and Steven NewitSteven o. Newhouse.(Little)
