Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian in 2005. Condé Nast Publications acquired the site in October 2006. Reddit became a direct subsidiary of Condé Nast's parent company, Advance Publications, in September 2011. As of August 2012, Reddit operates as an independent entity, although Advance is still its largest shareholder.[7] Reddit is based in San Francisco, California. 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.[8] Their investment saw the company valued at $500 million at the time.[9][10] In July 2017, Reddit raised an additional round of $200 million at a $1.8 billion valuation, with Advance Publications remaining the majority stakeholder. [11]

Tags

• #reddit (See: Reddit)

• #index (See: #index)