Reddit’s CEO Debuts As A Billionaire 20 Years After Cofounding The Company
Forbes Daily Briefing
Forbes
4.6 • 12 Ratings
🗓️ 6 November 2025
⏱️ 5 minutes
🧾️ Download transcript
Summary
Strong ad sales have propelled Steve Huffman into the billionaire ranks. Now he’s charting a new course, aiming to become invaluable to AI companies.
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Transcript
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| 0:00.0 | Here's your Forbes Daily Briefing for Thursday, November 6th. |
| 0:05.0 | Today on Forbes, Reddit CEO debuts as a billionaire 20 years after co-founding the company. |
| 0:13.0 | Reddit has hit its stride. |
| 0:16.0 | After trudging through 19 years of almost entirely losing money, the platform recorded its first quarterly profit |
| 0:22.5 | as a public company a year ago, and just posted its most lucrative financials yet. |
| 0:28.2 | Last week, the company announced a net income of $163 million, marking five consecutive |
| 0:34.9 | quarters of profitability, about a year and a half after going public. |
| 0:39.6 | The market rewarded the company. |
| 0:42.1 | Reddit's stock closed at $208.95 on Friday, October 31st, up 7.5% from the previous day, |
| 0:50.4 | and up 75% year over year. |
| 0:53.3 | It was enough to have bumped the fortune of co-founder and CEO Steve Huffman |
| 0:57.8 | up to $1.2 billion. |
| 1:01.1 | As of Wednesday, the stock had closed at just under $200. |
| 1:06.0 | On the company earnings call last week, |
| 1:08.7 | Huffman said, quote, |
| 1:10.2 | Q3 was a strong quarter. |
| 1:12.9 | On the call, he also lauded Reddit as being, quote, for humans by humans, and seemed to take a |
| 1:19.2 | subtle dig at AI slop, slop being the low-quality AI content clogging corners of the internet, |
| 1:25.9 | saying, quote, Reddit is in a unique position. |
| 1:29.1 | We're not trying to be the next anything. We're focused on being the best version of ourselves |
| 1:33.3 | and what the internet needs most, a place where people can connect on almost any topic and find |
| 1:39.1 | genuinely useful information. Authentic human recommendations are a hot commodity these days. As bots and |
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