If the market for initial public offerings recovers in the new year, one company that aims to go public early on is Reddit. An IPO will put the spotlight on the prospects for Reddit’s advertising business, which has fallen short of ambitious growth targetsoutlined by executives two years ago. ...
Why that amount? I’m guessing I’m missing some backstory.
That’s about how much he got out of selling Reddit to Conde Nast, which he was unhappy about after seeing the hundreds of millions other people got for selling their platforms like Myspace.