Reddit (stylized in its logo as reddit) is an American social news aggregation, web content rating, and discussion website.
Registered members submit content to the site such as links, text posts, and images, which are then voted up or down by other members. Posts are organized by subject into user-created boards called “subreddits”, which cover a variety of topics such as news, politics, science, movies, video games, music, books, sports, fitness, cooking, pets and image-sharing. Submissions with more up-votes appear towards the top of their subreddit and, if they receive enough up-votes, ultimately on the site’s front page. Despite strict rules prohibiting harassment, Reddit’s administrators spend considerable resources on moderating the site.As of May 2020, Reddit ranks as the 19th-most-visited website in the U.S. and in the world, according to Alexa Internet, with 55% of its user base coming from the United States, followed by the United Kingdom at 7.4% and Canada at 5.8%.Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian in 2005. Condé Nast Publications acquired the site in October 2006. In 2011, Reddit became an independent subsidiary of Condé Nast’s parent company, Advance Publications. 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. Their investment valued the company at $500 million then. In July 2017, Reddit raised $200 million for a $1.8 billion valuation, with Advance Publications remaining the majority stakeholder. In February 2019, a $300 million funding round led by Tencent brought the company’s valuation to $3 billion.
Category: Social Networking
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