Their initial idea, My Mobile Menu, was unsuccessful, and was intended to allow users to order food by SMS text messaging. After speaking with Huffman and Ohanian following the lecture, Graham invited the two to apply to his startup incubator Y Combinator. Huffman and Ohanian attended a lecture by programmer-entrepreneur Paul Graham in Boston, Massachusetts, during their spring break from University of Virginia. The idea and initial development of Reddit originated with then college roommates Steve Huffman and Alexis Ohanian in 2005. 5.2.2 Internet privacy, neutrality and anonymityĬo-founder Alexis Ohanian speaking in 2009.In August 2021, a $700 million funding round led by Fidelity Investments raised that valuation to over $10 billion. In February 2019, a $300 million funding round led by Tencent brought the company's valuation to $3 billion. In July 2017, Reddit raised $200 million for a $1.8 billion valuation, with Advance Publications remaining the majority stakeholder. Their investment valued the company at $500 million then. In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto. In 2011, Reddit became an independent subsidiary of Condé Nast's parent company, Advance Publications. Condé Nast Publications acquired the site in October 2006. Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian, with Aaron Swartz, in 2005. adults aged 30 to 49 years, regularly use Reddit. adults aged 18 to 29 years, and 14 percent of U.S. About 42–49.3% of its user base comes from the United States, followed by the United Kingdom at 7.9–8.2% and Canada at 5.2–7.8%. Īs of September 2021, Reddit ranks as the 19th-most-visited website in the world and 7th most-visited website in the U.S., according to Alexa Internet. Moderation is also conducted by community-specific moderators, who are not considered Reddit employees. Although there are strict rules prohibiting harassment, it still occurs, and Reddit administrators moderate the communities and close or restrict them on occasion. Submissions with more upvotes appear towards the top of their subreddit and, if they receive enough upvotes, ultimately on the site's front page. Posts are organized by subject into user-created boards called "communities" or "subreddits", which cover topics such as news, politics, religion, science, movies, video games, music, books, sports, fitness, cooking, pets, and image-sharing. Registered members submit content to the site such as links, text posts, images, and videos, which are then voted up or down by other members. Reddit ( / ˈ r ɛ d ɪ t/, stylized as reddit) is an American social news aggregation, web content rating, and discussion website.
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