News breaks on Reddit before it breaks anywhere else.
Reddit is the fifth most visited website in the United States, the thirteenth most visited website in the world. More than half of its users live in America. The company is known for its fast paced, fresh, user generated content.
Essentially, Reddit is a user driven news aggregate site. Registered users on the site can upvote posts, link to other websites, post images, post text, comment on posts, and communicated directly with other users.
There is nothing quite like Reddit online anywhere. It’s closest direct competitors are social media sites like Tumblr, Facebook, and Twitter. Reddit’s bare bones approach and simplistic design set it apart from other social media sites.
Two roommates at the University of Virginia, Alexis Ohanian and Steve Huffman, launched Reddit in 2005. The original concept was for the site to be like the front page of a newspaper, only for all of the vast content that exists on the internet. They worked on the site concept through the startup incubator Y Combinator in Boston. The original founders coded the site with Common Lisp.
Just a year later, the site was bought by Conde Nast Publications, though it remained an independent subsidiary. The two creators left the company in 2009.
Reddit’s post are organized into subject areas called subreddits. These are created by users and include a huge range of topics such as food, books, fitness, video games, news, movies, science, images, sports, etc. Users have the ability to drill down to discover exactly the kind of content that they want to find,
When a user likes a post, it gets an upvote. Content is promoted to the front page of Reddit depending on how many upvotes it has gotten from users. Over the years, getting to the front page of Reddit has become a highly coveted goal.
There are strict rules that work to prevent harassment on Reddit, however this has been nearly impossible to avoid. Reddit spends a considerable amount of time and resources on trying to prevent trolling and harassment on its site.
The community aspect of Reddit is a strong pull for its users.
April Fool’s Day is particularly beloved on the platform. Since 2015, the company has an annual tradition of releasing fictitious and ridiculous announcements on April 1st.
Ask Me Anything (AMA) interviews have become incredibly popular on Reddit. In this feature, users can ask questions of interviewees. President Barack Obama, CEO Bill Huffman, Bill Gates, Buzz Aldrin, Edward Snowden, and more have participated in the AMA interface. The AMA subreddit has almost eighteen million subscribers.
Turning a Profit
Reddit added paid advertising in 2009, including sponsored content.
The company supports about three hundred and fifty employees out of its office in San Francisco, California. Part of the company policy at Reddit is to maintain a non-negotiation policy with its employees. New parents, both mothers and fathers, get sixteen weeks worth of paid parental leave upon the birth of a child.
The company does not disclose its revenue numbers, however it was valued at one point eight billion dollars during a two hundred million dollar round of venture capital funding in 2018. The company’s user base continues to grow, especially in the international market.