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Anyone with questions, thoughts to discuss, or news to spread knows the go-to platform to get quick, genuine, and unfiltered responses: Reddit.
Reddit has become the go-to social media platform for its 430 million users and rising. These users are a part of various communities where they discuss matters, share content, and find solutions. While it proves to be an important social platform, users remain curious to know who owns Reddit and who are the brains behind this fantastic platform.
Here, we discuss the ownership behind Reddit through the years and the best communities it has produced.
What is Reddit?
Reddit is a social media platform comprising communities where users share visual content, stories, reviews, news, etc., and can engage in conversation. It’s an extensive network of discussion forums, or “subreddits”, dedicated to specific topics such as science, music, books, video games, food, etc.
Redditors (users) post interesting links, thoughts, and opinions on these subreddits for others to enjoy. They can also comment on other posts and even start separate conversations. Reddit provides a space for users to connect about any topic imaginable. The website also offers tools for promoting your content and connecting with like-minded individuals worldwide.
Reddit is also an excellent platform for marketing your business. Brands can use Reddit to drive traffic and increase brand awareness by creating engaging content, interacting with users, and offering discounts or promotions.
Reddit uses a “Karma” points system to measure users’ content quality and credibility. Users gain Karma points when other users upvote their posts and comments and lose points when they receive downvotes from other members. This system encourages users to produce quality content well-received by community members.
When Was Reddit Created?
Reddit was created in 2005 by two University of Virginia students, Steve Huffman and Alexis Ohanian. Interestingly, they weren’t even sure if people would use the platform they created, but luckily it took off quickly. The website quickly gained popularity and now has millions of visitors each month. It’s still going strong today as one of the most popular social media sites.
Steve Huffman is currently the CEO of Reddit. After graduating from MIT, he also co-founded Hipmunk, a travel website. Alexis Ohanian became an investment partner at Y Combinator, wrote two books, and was named in the top 30 entrepreneurs under 30 by Forbes magazine in 2011 and 2012. He’s also been very active in social causes related to internet freedom and open access to education. Alexis Ohanian has become a successful entrepreneur with his venture capital firm, Initialized Capital.
Both Steve Huffman and Alexis Ohanian have made immense contributions not only to Reddit but also to the world of technology as a whole. While Reddit’s ownership has changed hands multiple times in the platform’s course, we know that credit goes to Steve Huffman and Alexis Ohanian for creating this revolutionary platform.
Reddit Owner: Who Now Holds Ownership?
After one year of Reddit’s invention in 2005, it was sold to and operated by Condé Nast Publications in 2006, a division of Advance Publications. In 2011, Reddit became an independent subsidiary of the magazine publisher Condé Nast.
In 2014, Reddit raised $50 million in a funding round led by Sam Altman, including investors Marc Andreessen, Peter Thiel, Ron Conway, SV Angel, Joshua Schachter, and others from Y Combinator. This infusion of funds allowed Reddit to become an independent company and hire its staff.
Later, in August 2017, Reddit’s major shares were acquired by Advance Publications once again for an undisclosed sum. Since 2018, Reddit has been owned and operated entirely by Advance Publications. The co-founder and current CEO of the platform, Steve Huffman, runs Reddit as its largest shareholder.
In early 2019, Reddit confirmed it had raised a further $300 million through series-D funding, from which $150 million were invested by Chinese investors Tencent. This investment gave the company more flexibility to build its technology team.
While Reddit used to be privately owned by Advance Publications, the platform finally went public in March 2024 and can be traded on the New York Stock Exchange with the ticker symbol RDDT.
How Popular Is Reddit?
According to a 2021 report by Pew Research Center, Reddit ranks 10th among the most-used social media platforms. The site boasts a vibrant community where users can engage in meaningful conversations while finding helpful information and entertainment. Reddit is most popular within the 18-29 age group. It has over 430 million monthly active users, with an average of over 50 million daily users.
Reddit is attractive to those looking to share their unique perspectives or learn something new, as it allows sharing personal expression and opinions while providing various topics to explore. Several subreddit communities are dedicated to various topics, from news to sports and entertainment to education.
Some of the most popular subreddits are r/AskReddit and r/AMA, where people can ask questions and receive answers from anyone – including celebrities! The “Ask Me Anything” format has grown immensely recently; Reddit reported hosting 1,800 AMAs in 2018 alone. One of the most upvoted AMAs of 2020 was by Bill Gates on his foundation’s response to COVID-19.
Is Reddit Great for Marketing?
Reddit provides an excellent marketing opportunity for businesses of all niches. When used effectively, Reddit has the potential to reach a large, engaged audience and increase your visibility online.
Many massive corporations, including Old Spice and Audi, have used Reddit communities to launch successful campaigns that draw users’ attention and engagement. Old Spice’s “Smell Like a Man” campaign saw an impressive 4 million views in a single day.
Similarly, Audi’s ‘Case Study: How We Used Reddit To Reach 100 Million People Around The World’ leveraged the platform’s power of virality resulting in more than twice as many impressions than targeted with the campaign.
Subreddits are the most valuable tool of the platform that allows businesses to target a specific audience, post interesting content and drive the conversation to increase visibility. Subreddits also enable businesses to leverage Reddit affiliate marketing by engaging the audience in meaningful conversations and strategically promoting links to get higher click-through rates.
Businesses can also use Reddit for market research by monitoring conversations on relevant topics in their industry. This allows them to understand better their target audience’s wants and needs and their opinion on certain topics. Businesses can use this information to craft a unique and effective Reddit SEO strategy to improve their marketing efforts on the platform.
Businesses can use Reddit for marketing in six fundamental ways. These include:
- Affiliate marketing
- Social listening
- Market research
- Advertising
- Hosting AMA
- Creating subreddit
Benefits of Reddit Marketing
With Reddit marketing, you can avail of benefits typically not offered by other social media platforms. These include:
Access to an Untapped Market: When it comes to online marketing for businesses, Reddit is often overlooked. This means a vastly untapped market is waiting for you to take advantage of! Your business can stand out on this unique platform with the right strategy and creativity.
Personal Approach: Reddit is designed to facilitate meaningful conversations between users. This makes it an ideal place to engage with customers on a personal level. You can ask them questions, get feedback and show that you genuinely care about their opinions – something other platforms may not provide in the same way.
High Engagement Chances: Reddit offers opportunities to reach potential customers because of its design and structure. Unlike other social networks, Reddit comprises communities with shared interests, which increases your content’s chance of being seen by potential customers.
At its core, Reddit is about connecting people through meaningful conversations – something that should be at the heart of all successful marketing efforts. By leveraging the platform’s potential to engage with users genuinely, businesses can effectively market their products and services on Reddit.
If you want to leverage Reddit marketing for your business, social media marketing tools like Publer can make your Reddit journey count. With its post-scheduling, analytics, and AI assist tools, you can make your efforts effective and efficient. Publer constantly releases new tools to manage your social media presence that you can find in the Publer 2023 roadmap.
Top Reddit Communities
Reddit’s communities have made keeping up with the latest news, trends, and conversations easy. Whether you’re looking for an active discussion or entertaining content, these top Reddit communities have something for everyone.
r/funny
There’s no better place on Reddit than r/funny to get a good laugh. This community has over 48 million members and is ranked number one on Reddit. Whether you’re looking for humorous GIFs, witty puns and one-liners, or downright hilarious stories from around the world, r/funny has you covered. From memes to videos, you’ll never be short on material regarding the comedy world.
r/AskReddit
If you’re looking for advice, insight, or a conversation starter, head to r/AskReddit. This popular subreddit offers a variety of topics ranging from politics to sports to relationships. With over 40 million active members, AskReddit is an excellent place to ask questions and get answers from knowledgeable people worldwide.
r/aww
r/aww is a Reddit community dedicated to wholesome and adorable content. It’s home to all sorts of cute animals, funny stories, heartwarming moments, and more. If you’re looking for a place to get your dose of cuteness, r/aww is the place to be. You can find stories about rescue animals being adopted and reunited with their families to funny videos that will make you laugh out loud.
r/Music
When it comes to music, Reddit’s r/Music is an amazing resource that brings together fans and musicians from all over the world. You can discover and participate in various topics, including reviews of new releases, recommendations for tracks to listen to, discussions about upcoming concerts and festivals, and much more. The community is full of knowledgeable and passionate people willing to share their knowledge and help others discover new music.
r/todayilearned
r/todayilearned is an online community all about knowledge. It’s a place to share interesting and enlightening facts from around the world. From science to history, you’ll find something new to learn every day – exactly what this subreddit encourages.
r/movies
If you’re a movie buff, you should know about r/movies. This popular Reddit community focuses on all things movies – from reviews to trivia and beyond. You can find discussion threads on almost any film-related topic and get recommendations from fellow cinephiles. You’ll also get the latest news about upcoming releases and the scoop on what’s hot in theaters.
r/news
The 26 million and counting members of r/news offer the latest updates and news from all over the world. But it’s not just a place to read up on current affairs. With such an active user base, r/news is also an exciting community for debating topical issues and discussing events in greater detail with other passionate members. In addition to political conversations, you can find plenty of breaking news and viral content.
Key Takeaways
This post sums up the “Who owns Reddit” dilemma. Reddit is one of the most powerful social networks owned and operated by Advance Publications.
To wrap up:
- Reddit was invented by Steve Huffman and Alexis Ohanian in 2006 and sold one year later to Condé Nast Publications, a division of Advance Publications.
- Advance Publications purchased major shares of Reddit in 2017 and has since been the social media platform owner and operator.
- Reddit offers businesses the opportunity to tap into an untapped market and personally engage with their target audience.
- Businesses can effectively boost their visibility and increase engagement by leveraging Reddit’s potential for affiliate marketing, social listening, market research, advertising, hosting AMAs, and creating subreddits.
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Ervin Kalemi
Founder & CEO
With over 10 years of experience in software development, entrepreneurship, digital marketing, and social media, I strive every day to bring the best solutions that will empower your business's online presence.Currently working on Publer and Kibo.
