Reddit is an American discussion website, social news aggregation as well as content rating website. It involves registered members who submit their content to the site such as images, links or even texts, which are in return voted down or up by the other members. Now let’s have a close look at the net worth of Reddit in 2018.
Reddit was founded in 2005, by University of Virginia Roommates Alexis Ohanian and Steve Huffman. They were both 22 years old at the time, and they were later joined by Christopher Slowe the same year. By January 2006, the company merged with Infogami, which was owned by Aaron Swartz. Aaron became an equal owner of the company they then called Not A Bug.
In October 2006, Conde Nast Publications acquired Reddit prompting the company to move to San Francisco. The members of the team grew to include David King, Erick Martin, Mike Schiraldi and Jeremy Edberg. The company started operating independently of Conde Nast from September 2011.
The site collects entries submitted by the registered members, essentially a board bulletin system. The content is divided into several categories called ‘Subreddits.’ The most popular post from these categories is made to be visible on the front page of the site to those who visit the sites but don’t have an account.
After an item is submitted to ‘Subreddit’, the users, who are referred to as ‘Redditors’ are allowed to vote for or against it. (upvote/downvote). The subreddits shows the highly rated newer submissions on their front page. Redditors get a chance to comment on the submissions and also show their response in a conversation-tree of comments. All the members subscribed to the site gets the combination of all the subreddits’ highest-rated post on the sites’ front page.
Some of the popular subreddits on the site are /r/The-Donald. It is a community which supports Donald Trump’s politics. Another one is /r/Science- discussing science, among many others. The company once said their purpose is to give the community control to cultivate and control the community they want to have.
As much as the site is a big success, it has had its fair share of controversies over the years. They include Redditors being threatened and blackmailed for their posts, false information, celebrity photo hacks, harassment on its managers, among many others. some of these controversies led to shutting down of members, removal of moderators, banning of subreddits and more.
As part of the achievement, Reddit is ranked position three on the most visited website in the United States of America. It has over 550 million visitors in a month. It is rated at position six on the most visited sites in the entire world.
Net Worth & Earnings
Reddit is among the most visited sites in the globe. The website is currently valued at over $2 billion. This wealth is as a result of the sites extensive use over the years. The site gets more than 550 million visitors monthly, and that translates to huge returns. With the vast growth of technology, the site is bound to get even more visits.
Reddit began as a small idea of two roommates and eventually grew to an international company. Anybody from all over the world can access the site as its registration is free and no email address is required. It means that we have not seen the end in the growth of Reddit. The website is here to stay.