Reddit CEO Steve Huffman on the IPO

**Kara Swisher** (0:01)
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**SPEAKER_2** (0:39)
This episode is brought to you by On Investing, an original podcast from Charles Schwab. Each week, hosts Liz Ann Saunders, Schwab's Chief Investment Strategist, and Cathy Jones, Schwab's Chief Fixed Income Strategist, bring you fresh insights on what's happening in the markets and why, and what the implications might be for your portfolio.
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**Kara Swisher** (1:27)
Hi, everyone, from New York Magazine and the Vox Media Podcast Network, this is On with Kara Swisher, and I'm Kara Swisher. This morning, Thursday, March 21st, the social media platform Reddit is set to go public, seeking a valuation of up to $6.4 billion. So yesterday, ahead of the ringing of the bell, I spoke to Reddit co-founder and CEO, Steve Huffman. I've known Steve for a long time, almost two decades, and I've interviewed him at various points in the Reddit trajectory. This IPO is a big deal for a few reasons. Reddit is one of the last original social media companies to go public, but the company is still in the red.
And there are questions, including from the FTC, about the ways that Huffman aims to make it profitable in the future.
The IPO is also rare because some Redditors have been given the chance to buy stock, which could be a good thing or a bad thing. Remember, it was the sub-Reddit WallStreetBets that fueled a short squeeze by pushing the stock of GameStop into the stratosphere.
Speaking of which, our question this week comes from the guy whose book about that meme stock frenzy was made into the movie Dumb Money. Ben Mezrich, author of The Anti-Social Network.
We'll have all that and more after the break.
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**SPEAKER_2** (4:08)
This episode is brought to you by On Investing, an original podcast from Charles Schwab.
Each week, hosts Liz Ann Saunders, Schwab's Chief Investment Strategist, and Kathy Jones, Schwab's Chief Fixed Income Strategist, analyze economic developments and bring context to conversations around equities, fixed income, the economy, and more. Join Kathy, Liz Ann, and their guests as they share insights on what might be moving the markets and why, as well as what indicators they are watching for signs of change. They'll also answer investor questions on everything from how sectors are evolving to what the bond markets are telling us, to where to look for opportunities and considerations for your portfolio. You can download the latest episode of On Investing and subscribe so you never miss an episode at schwab.com/ On Investing or wherever you get your podcasts.