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This question is about Reddit.
Who owns Reddit?
Advance Publications owns Reddit. Reddit is a privately-owned company and generates the majority of its revenue through advertising on its platform. Users that don't want to be bothered by ads on their feeds have the option to purchase Reddit's premium, ad-free membership.
Reddit is an American social news aggregation, content rating, and discussion website. Registered users (also known as Redditors) submit content to the site including links, text posts, or videos. This content is then voted up or down by other members and submissions with more upvotes appear towards the top of the subreddit.
Reddit administrators moderate the communities. Ultimately posts are organized by subject on user-created boards. Content that receives the most upvotes are listed on the site's front page.
As of March 2022, Reddit is ranked as the ninth most visited website in the world and the sixth most visited site in the United States. About 42% of Reddit's user base comes from the United States followed by the United Kingdom and Canada.
Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian, and Aaron Swartz. In 2006, Conde Nast Publications acquired the site. In 2011, Reddit became an independent subsidiary of Conde Nast Publications' parent company Advance Publications.
Reddit is headquartered in San Francisco, California. In 2021, Reddit had Q2 revenue of over $100 million with over 700 employees working for the company.
As of August 2021, Reddit was valued at more than $10 billion following a $410 million funding round. The company is looking to hire investment bankers and lawyers to assist in making an initial public offering which is expected sometime in 2022.
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