April 19, 2018 / 4:18 PM / in a month

Reddit hires former Time Inc executive as chief operating officer

SAN FRANCISCO (Reuters) - Reddit Inc, the tech firm behind one of the most popular websites in the world, said on Thursday it had hired former Time Inc executive Jen Wong as its chief operating officer.

Reddit, founded in 2005 and privately held, has been hiring staff, expanding its advertising operation and redesigning its service as it seeks to take market share from other social networks like Facebook Inc.

The site, ranked No. 6 in traffic globally by research firm Alexa, is known for its zealous user base and its power to make images or stories go viral.

Its investors include media company Condé Nast, which once owned Reddit and later spun it off, as well as venture capital firms Andreessen Horowitz and Sequoia Capital.

Wong previously served as chief operating officer and president of digital at Time, which was bought recently by U.S. media company Meredith Corp in a $1.84 billion deal backed by conservative billionaire brothers Charles and David Koch.

Wong will be based in Reddit’s New York office and oversee business strategy, including for Reddit’s digital advertising products, the company said in a statement.

Reporting by David Ingram; Editing by Sandra Maler

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