Reddit, Inc.
Explore Reddit
Core profile pages, annual revenue records, and related research hubs for this company.
Reddit, Inc.
Explore Reddit
Core profile pages, annual revenue records, and related research hubs for this company.
Company History
Founded 2005 in San Francisco, California
Reddit began in 2005 after Steve Huffman and Alexis Ohanian joined Y Combinator and pivoted from an earlier mobile food-ordering idea into a user-ranked front page for the internet. Aaron Swartz became tied to the founding story after Infogami merged with Reddit later that year. Conde Nast acquired Reddit in 2006, and the platform later regained operational independence.
Huffman co-founded Reddit, returned as CEO in 2015, and led the company through API changes, monetization work, and the 2024 IPO.
Ohanian co-founded Reddit and helped shape the early product and community identity before later becoming an investor and public advocate for startup builders.
Swartz became part of the Reddit founding story when Infogami merged with Reddit early in the company's life.
Added mobile app capability and helped Reddit move from a desktop-centered experience toward official mobile distribution.
Added video product talent and short-form media capability.
Added machine-learning infrastructure talent.
Reddit was founded in 2005 in Medford, Massachusetts, by Steve Huffman and Alexis Ohanian, two 22-year-old roommates at the University of Virginia. They were part of the very first batch of the legendary startup incubator Y Combinator.
Yes, a massive early mistake. In 2006, just 16 months after launching, Huffman and Ohanian sold Reddit to Condé Nast (the massive magazine publisher) for roughly $10 to $20 million. It was incredibly cheap, as the site eventually became worth billions, leading the founders to deeply regret the early sale.
In 2011. Condé Nast's parent company (Advance Publications) realized that a massive, chaotic tech platform did not fit inside a legacy magazine publisher. They spun Reddit out as an independent subsidiary, though Advance remained the largest shareholder.
A period of massive, intense chaos. In 2014, Ellen Pao became interim CEO. She aggressively attempted to clean up the site, banning highly toxic, hateful communities (subreddits). The user base violently revolted, organizing massive harassment campaigns against her, forcing her resignation and paving the way for founder Steve Huffman to return as CEO.
March 2024. After nearly two decades of operation, highly volatile management changes, and massive unprofitability, Reddit finally executed its Initial Public Offering (IPO) on the New York Stock Exchange under the ticker 'RDDT,' instantly valuing the company at over $6 billion.