Reddit
Wiki infoReddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian, with Aaron Swartz, in 2005. Condé Nast Publications acquired the site in October 2006. In 2011, Reddit became an independent subsidiary of Condé Nast's parent company, Advance Publications. 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 valued the company at $500 million then. In July 2017, Reddit raised $200 million for a $1. 8 billion valuation, with Advance Publications remaining the majority stakeholder. In February 2019, a $300 million funding round led by Tencent brought the company's valuation to $3 billion. In August 2021, a $700 million funding round led by Fidelity Investments raised that valuation to over $10 billion. The company then reportedly filed for an IPO in December 2021 with a valuation of 15 billion dollars.
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