In a surprising turn of events, Reddit co-founder Steve Huffman was asked to return and run the platform during a leadership crisis in 2015. At first reluctant to come back, Huffman described Reddit as a headache with constant turnover of chief executives and a combative community of users.
Despite facing numerous challenges with ownership, technology, and competition, Huffman ultimately decided to return to lead the platform. This decision has proved to be a wise one, as Reddit is now poised to reach the stock market this month in one of the first tech initial public offerings of the year.
The 19-year-old company is considered a throwback to an earlier era of social media and is defying investor skepticism towards tech offerings. Reddit has faced stagnation and controversies over its stance on free speech, and struggled to build a viable business model. Initially resistant to advertising, Reddit eventually embraced it as a key revenue source.
As Reddit prepares for its IPO, it is clear that the platform has come a long way since Huffman’s return in 2015. With its unique approach to social media and commitment to free speech, Reddit is sure to make waves in the tech world as it goes public this month.
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