Many subreddits have a customized Snoo logo to represent the subreddit. Redditors can also submit their own logos, which sometimes appear on the site's front page, or create their own customized versions of Snoo for their communities (or "subreddits"). When Reddit revamped its website in April 2018, the company imposed several restrictions on how Snoo can be designed: Snoo's head "should always appear blank or neutral", Snoo's eyes are orange-red, and Snoo cannot have fingers. Snoo's purpose is to discover and explore humanity. Corporate affairs Reddit is a private company based in San Francisco, California. It has an office in the Mid-Market neighborhood. Reddit doubled its headcount in 2017; , it employed approximately 350 people. In 2017, the company was valued at $1.8 billion during a $200 million round of new venture funding. The company was previously owned by Condé Nast, but was spun off as an independent company. , Advance Publications, Condé Nast's parent company, retained a majority stake in Reddit. Reddit's key management personnel includes co-founder and CEO Steve Huffman, Chief Technology Officer Chris Slowe, who was the company's original lead engineer, and Chief Operating Officer Jen Wong, a former president of digital and chief operating officer at Time Inc. Reddit does not disclose its revenue figures. The company generates revenue in part through advertising and premium memberships that remove ads from the site. As part of its company culture, Reddit operates on a no-negotiation policy for employee salaries. The company offers new mothers, fathers, and adoptive parents up to 16 weeks of parental leave. As of August 2021, Reddit is valued at more than $10 billion following a $410 million funding round. The company is looking to hire investment bankers and lawyers to assist in making an initial public offering, which is expected in 2022. However, CEO Steve Huffman says the company has not decided on the timing for when to go public. In December 2021, Reddit announced they had filed a draft registration statement with the SEC regarding their prospective IPO. Advertising In February 2013, Betabeat published a post that recognized the influx of multinational corporations like Costco, Taco Bell, Subaru, and McDonald's posting branded content on Reddit that was made to appear as if it was original content from legitimate Reddit users. PAN Communications wrote that marketers want to "infiltrate the reddit community on behalf of their brand," but emphasized that "self-promotion is frowned upon"