Reddit is an American social news aggregation, web content rating, and discussion website. Reddit's registered community members can submit content such as text posts or direct links. Registered users can then vote submissions up or down that determines their position on the page. Submissions with the most up-votes appear on the front page or the top of a category. Content entries are organized by areas of interest called "subreddits". Subreddit topics include news, science, gaming, movies, music, books, fitness, food, image-sharing, and many others. The site prohibits harassment, and moderation requires substantial resources.
As of 2017, Reddit had 542 million monthly visitors (234 million unique users), ranking #4 most visited website in U.S. and #9 in the world. Across 2015, Reddit saw 82.54 billion pageviews, 73.15 million submissions, 725.85 million comments, and 6.89 billion upvotes from its users.
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. 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. Their investment saw the company valued at $500 million at the time. In July 2017, Reddit raised an additional round of $200 million at a $1.8 billion valuation, with Advance Publications remaining the majority stakeholder.
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