Term Sheet — Thursday, February 8
Good morning, Term Sheet readers.
Reddit co-founder Alexis Ohanian announced Wednesday that he would be stepping down from his daily role at the company (he will continue to serve on Reddit's board).
Ohanian said he will return to Initialized Capital, an early-stage VC firm he co-founded with Garry Tan, as a full-time general partner. The firm has more than $250 million in assets under management, and its investments include Coinbase, Instacart, Zenefits, Opendoor, Soylent, and Cruis...