'Reddit' CEO and COO Retain Billions in Shares Despite Selling Thousands of Stocks

On May 5 and 15, Reddit, Inc. (NASDAQ: RDDT) CEO Steve Huffman exercised stock options through a personal trust and sold tens of thousands of Class A common shares on the open market, generating roughly $3.25 million and $3 million in proceeds—about KRW 4.5 billion and KRW 4.0 billion, respectively—while still retaining hundreds of thousands of shares and an indirect stake valued at approximately KRW 90 billion.

On May 18, COO Jennifer Wong exercised options for about 39,000 shares and sold the same amount in multiple transactions, realizing roughly $6.2 million (about KRW 87 billion), yet she continues to hold more than one million shares in aggregate—directly and indirectly—worth around KRW 230 billion.

In its Q1 2026 earnings report released April 30, Reddit posted revenue of $663 million and net income of $204 million, marking year-over-year revenue growth in the 60% range and strong margins. AI data licensing and advertising revenue have emerged as the company’s key growth drivers.

Recently, Reddit has been enhancing its advertising and e-commerce capabilities by advancing AI-powered search, integrating with Shopify and WooCommerce, and expanding its partnership with Sprout Social to leverage community data.

Founded in the U.S. in 2005, Reddit is a community-based social platform that went public on the New York Stock Exchange in 2024, with cofounder Steve Huffman serving as CEO. COO Jennifer Wong—formerly an executive in media companies such as Time—oversees Reddit’s advertising and monetization strategy, spearheading business-model diversification through AI search, data licensing, and strengthened brand safety since the IPO.