![]() Huffman became the chief executive, while Ohanian was the full-time executive chairman. Ohanian and Huffman returned to Reddit after five years. As a CEO, she established an anti-harassment policy, stopped indirect sexualization, and closed many forums that harassed individuals and other forms of cyberbullying. In 2014 Ellen Pao became interim CEO before resigning in 2015. Also, Reddit began to accept Bitcoin for payments through its partnership with Coinbase in early 2013. During Wong’s time, the company raised $50 million in funding and became independent. Wong was credited with the company’s newfound success because, during his administration, Reddit users grew to 174 million. He later resigned from Reddit in 2014 because others disagreed when he proposed to move the company headquarters from San Francisco to Daly City. In 2012, Yishan Wong became Reddit’s new CEO. In September 2011, Reddit was no longer under Condé Nast’s ownership and became a separate subsidiary under Advance Publications. Additionally, it became a new revenue stream for Reddit, eliminating its dependency on adverts. In 2010, it started its premium plan called the Reddit Gold benefits program, which introduced many new features, such as ad-free content to users. In 2009, Reddit launched a self-serve advert and sponsored content feature. Martin kept the site going and aided the purchase of Reddit Gifts. ![]() After this, Erik Martin, the community manager in 2008, became the general manager in 2011 and accelerated Reddit’s growth. However, in 2009, Ohanian and Huffman left Reddit. In October 2006, Huffman and Ohanian sold Reddit to Condé Nast Publications for about $10 million before moving to San Francisco. In January 2006, Reddit acquired Aaron Swartz’s company Infogami. In November 2005, Christopher Slowe joined the team. ![]() The site started as an empty site, which prompted the founders to create hundreds of fake users to post to make the site look active and populated. After receiving Y Combinator’s support and funding, Huffman and Ohanian worked together to launch Reddit in June 2005. This time, Graham called it the “front page of the Internet.” Upon the success of this idea, Ohanian and Huffman were accepted into Y Combinator’s first class. While brainstorming for another startup, they devised another idea. ![]() After the lecture, Graham invited both of them to join his class called “Y Combinator.” Their first idea was My Mobile Menu, which was intended to allow users to order food by text messaging, which was created during this period but was unsuccessful. They were college roommates and were at a lecture hosted by programmer Paul Graham during a spring break from their University. Reddit is a social news aggregation website founded in 2005 by Alexis Ohanian and Steve Huffman. By enabling users to curate content, Reddit has become one of the most popular social media platforms in the world. Reddit is successful because it focuses on creating a community-driven platform that provides value to users and advertisers. Reddit also offers premium features, such as Reddit Gold, which provides users additional perks like access to The Member-Only Lounge and ad-free content. As mentioned, in addition to traditional banner ads, Reddit offers sponsored posts and promoted content, which target specific subreddits, ensuring they get the right audience. They can share content and comment on other posts, or even begin separate discussions. Reddit also sells ad space to companies that want to reach their target audience. It is a community-driven platform where users can post text and pictures and share their views on various topics, stories, reviews, and news. It has a vast discussion forum network called “subreddits,” focused on topics ranging from technology, movies, books, music, food, etc. Known as one of the most popular websites worldwide, Reddit has been around since 2005. The Reddit business model is based on ads sales, as well as sponsored posts and promoted content, and premium features through subscriptions.
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