Reddit is recognised as an American based social news aggregation, web content rating, as well as known as a discussion website. In this website, registered members send content to this site like text posts, links, and images, which are later voted up or down through other members.
It is best recognised for the fact that as of 2017, it owned 542 million monthly visitors, positioning at #4 most visited website within the U.S. as well as #9 in the world. Keep reading to know more about Reddit’s net worth in 2018.
History & Wiki
Reddit was born in the year 2005 when it was established in Medford, situated inside Massachusetts by Alexis Ohanian and Steve Huffman, both identified as alumni of the University of Virginia. This team developed to contain Christopher Slowe in the year 2005.
Between late 2005 and early 2006, this website has combined with Aaron Swartz’s company named Infogami, and Swartz turned as an equal proprietor of the resultant parent company named Not A Bug.
It is known that Condé Nast Publications, known as the proprietor of Wired, possessed Reddit in the year 2006, and this team relocated to San Francisco. In the year 2007, Swartz got fired.
The Reddit site is a group of entries sent by its recorded users, basically a bulletin board system. It is known that this name “Reddit” is basically a play-on-words through the phrase “read it”, suggesting a meaning “I read it on Reddit.”
The content of this site is separated to many categories, and the famous posts from such ‘subreddits’ are noticeable on the main page to people who visit the site in the absence of need of any account. As of the year 2016, there are more than 11,400 active subreddits.
When items (text posts or links) are sent to a subreddit, users, named as “Redditors” are allowed to vote for or against them, i.e. either upvote or downvote. Every subreddit possesses a front page which displays latest submissions which got rated highly.
Moreover, Redditors can too make comments regarding the submission, as well as revert within a conversation-tree of comments; such comments themselves can too be downvoted and upvoted.
Making an account with Reddit is basically free and need no email address to finish the process. As of the year 2015, there were total of 36 million user accounts.
Whenever logged in, its users (also identified as redditors) have the capability to vote on submissions as well as comments to decrease or increase their visibility and send links and also comments.
Awards & Achievements
As of 2017, Reddit possessed 542 million monthly visitors, getting rank as #4 greatest visited website within the U.S. as well as #9 all over the world. In the year 2015, he got 82.54 billion page views, 725.85 million comments, 73.15 million submissions, and 6.89 billion upvotes right from its users.
In the year 2010, it was entitled in Lead411’s “2010 Hottest San Francisco Companies” list.
Net Worth of Reddit
Reddit has an estimated net worth of $1.8 Billion. It has made most of his fortune with its works as a social news aggregation, web content rating, and as a discussion website. It is found that Reddit has funded around $200 million in afresh venture funding as well as it is assessed in billions as per CEO named Steve Huffman.
This money comes from many famous Silicon Valley stockholders, which includes firms such as Andreessen Horowitz as well as Sequoia Capital, and single investors such as Y Combinator President named Sam Altman and SV Angel’s Ron Conway.
Moreover, it too contains funding from the hedge fund, i.e. Coatue, investment organisation named Vy Capital as well as mutual fund giant named Fidelity.
Reddit is one of the greatest and popular discussion website in present time. This website is famous for its open nature as well as a diverse user community which produces its content.
The site demographics permit for an extensive range of subject areas, or major subreddits, which get higher attention, and even capability for minor subreddits to support higher niche purposes.