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Jason Bohrerjnbohrer
Product
• News aggregation
• Subreddits
• Upvote/downvote
History
• Founded in 2005 by UVA students Steve Huffman and Alexis Ohanian
• Acquired by Condé Nast Publications in 2006
• Became a separate subsidiary of Condé Nast’s parent company Advance Publication in 2011
Financials
• Raised $50 million in 2014 from multiple investors
• Valued at $500 million dollars in 2014
• Investors include Snoop Dogg, Jared Leto, and VC firms
Business
• Reddit sells advertising space
• Reddit Gold
• Still not fully monetized
Secret Sauce
• Immediate reaction to news
• Reddit has a subreddit for EVERYTHING
Competitors
Prediction
• Alexa ranking rising steadily
• Hands-off approach
• May have trouble becoming profitable
Questions?
References
• https://www.theguardian.com/technology/2014/oct/01/reddit-secures-50m-fundraising-investors-snoop-dogg
• http://www.huffingtonpost.com/2013/12/28/reddit-profit_n_4511581.html
• http://venturebeat.com/2012/11/28/the-inside-story-on-how-reddit-was-created-i-wanted-to-make-the-world-suck-less/
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