Reddit Names Y Combinator’s Michael Seibel to Board, Replacing Co-Founder Alexis Ohanian

Reddit Names Y Combinator’s Michael Seibel to Board, Replacing Co-Founder Alexis Ohanian
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Reddit announced the appointment of Michael Seibel, a venture-capital investor, adviser and entrepreneur, to its board of directors.

The news comes less than a week after co-founder Alexis Ohanian said he was resigning from the company’s board and urged Reddit to select a Black candidate to replace him.

Seibel is a partner at early-stage VC firm Y Combinator and CEO of the YC startup accelerator program (which, prior to Seibel’s tenure, helped launch Reddit in 2005). He previously co-founded Justin.tv, the forerunner of Twitch; and mobile social-video startup Socialcam. During his time leading YC, the accelerator has funded and advised more than 1,800 startups. Seibel is widely known in the VC world for promoting diversity and inclusion.

“I want to thank Steve, Alexis, and the entire Reddit board for this opportunity,” Seibel said in a statement provided by Reddit. “I’ve known Steve and Alexis since 2007 and have been a Reddit user ever since. Over this period of time I’ve watched Reddit become part of the core fabric of the internet and I’m excited to help provide advice and guidance as Reddit continues to grow and tackle the challenges of bringing community and belonging to a broader audience.”

With his board appointment, Seibel is receiving equity in Reddit. The company does not “break down the specifics of our comp structure for any Reddit employee or board member,” according to a rep.

Source: Variety

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