# @morningbrew on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/C3tc3yaMmT3
- **Gondola URL:** https://gondola.cc/posts/17630089-morningbrew-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/legacy-do/db214c9009c66e6b7e12664535d89bd15ea6726af04a936ed9acf12a13da21da.jpg
- **Posted:** 2024-02-24T00:30:27.000+00:00
- **Account Owner:** Morning Brew ☕️ (@MorningBrew) — https://gondola.cc/MorningBrew

## Caption

After news broke Thursday that social media platform Reddit filed its IPO paperwork, documents revealed that OpenAI CEO Sam Altman is the company's third-largest stakeholder.⁠
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Altman holds 8.7% of the company's outstanding shares. For context, Reddit CEO Steve Huffman only holds 3.3%.⁠
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With Reddit seeking a valuation of at least $5 billion, Altman's stake could be worth roughly $435 million when the company goes public next month. ⁠
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Despite not being a co-founder, Altman's no stranger to Reddit: he's taken part in various funding rounds since 2014, and has invested at least $60 million since then. He also spent time as a board member from 2015-22, and had a brief cameo as Reddit CEO for eight days in 2014. ⁠
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The social platform's IPO is a big moment in two ways: it's the first major tech offering of 2024 and the first social media IPO since Pinterest in 2019. ⁠
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📸 : Getty⁠
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#reddit #ipo #nyse #marketnews #technews #openai #socialmedia #business #businessnews

## Stats

- **Views:** 0
- **Likes:** 13,467
- **Shares:** 0
- **Comments:** 81

## Credits

These are the roles credited on Gondola. Credits may be incomplete.
A brand, account owner, or featured person is not necessarily the creator.

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| Morning Brew ☕️ | @MorningBrew | https://gondola.cc/MorningBrew | Media Company |
| Liam Fennessy | @LiamFennessy_ | https://gondola.cc/LiamFennessy_ | Editor |

## Tags

marketnews, technews, businessnews, openai, business, nyse, socialmedia, ipo, reddit

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