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Reddit is is a social news aggregation, web content rating, and discussion website with headquarters in San Francisco.
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Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian in 2005. Condé Nast Publications acquired Reddit in October 2006, but 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 included 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.
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