The company then reportedly filed for an IPO in December 2021 with a valuation of 15 billion dollars. 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 December 2022, Reddit ranks as the 20th- most-visited website in the world and 6th most-visited website in the U.S., according to Semrush. Moderation is also conducted by community-specific moderators, who are not Reddit employees. Reddit administrators moderate the communities. 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".
Registered users (commonly referred to as "Redditors") 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 in all lowercase as reddit) is an American social news aggregation, content rating, and discussion website.
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