Sam Altman, OpenAI’s CEO, is poised to reap big from Reddit’s upcoming public offering, revealing a little-known investment journey that began in 2014.
Altman had been a big user of Reddit, and later a major investor starting in 2014, followed by further investments down the line.
With an impressive 9.2% voting power in Reddit, Sam Altman will certainly be one of the big winners as the company transitions into a public entity in coming weeks.
This stake is a result of Altman’s early and continued investment in Reddit, beginning with a leadership role in the platform’s $50 million Series B funding round in 2014.
Altman has a particular love affair with Reddit, which he has praised for its evolution from a “silly toy for wasting time” to a significant online community.
After years of financial underperformance, Reddit now appears to be ready to join the big social media league, buoyed by content licensing deals with major AI companies like Google.
Before his involvement with OpenAI, Altman served as the president of the Y Combinator, a Silicon Valley accelerator that provided him with exposure to numerous startups.
His investment portfolio extends beyond Reddit, including notable entries like Asana and Instacart, both of which have made successful debuts on the stock exchange. A
ltman’s trajectory from a startup accelerator president to the CEO of an AI powerhouse highlights his knack for recognizing and nurturing potential in the tech space.
Altman’s association with Reddit also includes a significant $60 million investment in 2021, amplifying his influence on the platform ahead of its IPO.
Despite stepping down from Reddit’s board in early 2022, his impact on the company is indelible, with Reddit CEO Steve Huffman lauding his contributions.
As Reddit prepares for its IPO, Altman’s initial investment has already appreciated, showcasing the potential for a substantial return.
