The History of Reddit – How Alexis Ohanian and Steve Huffman Started The Company
Reddit.com is amongst the biggest social networking sites nowadays. It has more than a billion page views monthly, which makes it one of the most popular websites in the world. “The front page of the Internet” was started back in 2005, by two guys in their twenties – Alexis Ohanian and his friend Steve Huffman. They created a social site, where people were able to share links with a short description and vote for them. According to the number of votes, the publications were ranked and shown on the site. The young entrepreneurs initially created some fake accounts themselves and started posting from them to add some content to the network. Soon, the first users came into the community. In the beginning, the project was financed with $100 000 in starting capital by “Y Combinator” – an American start-up funding company. And this investment turned out to be like investing in a hen that lays golden eggs. Just a year later, in 2006, Reddit.com enjoyed some pretty nice traffic, it had more than 500 000 impressions daily. At that time the company “Conde Nast” purchased the site for an amount of around $20 million. This is how the two founders became millionaires really fast, just in a year.
In 2008, Reddit.com became an open-source software. For the people who don’t know what this is, open-source software is free and available for every application. This means that you can download the system and build the same site like Reddit, after installing it. Yeah, that is right, you can grab the source code here: https://github.com/reddit/reddit/downloads .
In 2009, Reddit launched its advertising program, and selling ads on the site was the required step forward, in order to keep it expanding. By that year, the social network had millions of impressions per month, which had to be monetized somehow.
In 2010, Reddit Gold was launched – a special subscription plan, with which a user gets access to some special features and to the “secret community”, that may or may not exist. Becoming a gold member costs around $30 per year.
In 2011, Reddit surpassed its rival Digg.com having more visitors and higher rankings. “Conde Nast”, the firm that acquired the site several years ago, spun it out as a separate company.
Today Reddit.com is not only one of the biggest social sites, but its community is among the most loyal ones. The average Redditor spends more than 16 minutes browsing the site and doing some Reddit stuff. By the end of 2011, the site received more than 1,5 billion monthly impressions. Nearly 80% of its user is male and the most loyal ones tend to be Canadians.
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Reddit is a social news platform and discussion website, where registered users submit content in the form of links, images, and text posts. Content is then voted up or down by other Reddit users. It is a place where people can share information, connect with others, ask questions, and exchange ideas.
Reddit has become one of the most popular websites in the world, ranking in the top five websites in the U.S. It is home to more than 770 million monthly active users and 44 million daily active users, according to the website Statista. It has something for everyone, from subreddits devoted to business, finance, gaming, science, food, travel, and all sorts of other topics.
The secret to Reddit’s success is its user-generated content, which can be either text, videos, images, links, and more. Redditors, as they are called, are encouraged to share their thoughts and opinions. There are over 130,000 active subreddits that are dedicated to specific topics and interests, with each subreddit being moderated by active members. Redditors also participate in conversation threads called “Ask me Anything” (AMA) where users can ask each other anything and have candid conversations about a certain topic.
This user-generated content makes for a vibrant and diverse discussion platform that caters to a variety of interests. Participating in conversations and sharing content on a platform like Reddit can help users gain knowledge and become more informed. Reddit also offers users the chance to engage with large companies, such as popular tech companies or streaming services, who often use Reddit to give away products or conduct surveys and market research.
The advantages of using Reddit are that it is an open platform that welcomes people from all walks of life, casual users, and professional ones. It is also a great way to stay informed and keep up with news, trends, and topics. Reddit can be a powerful tool for gaining knowledge about various topics, interacting with people from different cultures, and finding new interests. However, users should be aware that Reddit’s content can be quite polarizing and controversial, so it’s important to use your judgement and stay civil when engaging in conversations.