# Reddit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/reddit

- Industry: Internet
- Headquarters: San Francisco, US
- Website: www.reddit.com
- Total disclosed funding: $1.6B
- Latest round: Series F (Sep 11, 2021)
- Investors on record: 13

## About

Founded in 2005 and based in California, US, Reddit, Inc. operates as a developer of social content and media sharing platform enables to create content, latest digital trends, and breaking news. The company was co-founded by Alexis Ohanian and Steve Huffman (CEO) and has approximately 1662 employees as of 2021. In January 2021, the company raised USD 250 million in series E funding, led by returning investor Vy Capital, with participation from new investors. In March 2024, Reddit, Inc. raised USD 748 million in an IPO, selling 22 million shares at USD 34 per share, within the expected USD 31-34 range, on the New York Stock Exchange under the ticker symbol "RDDT." The listing valued Definitive Healthcare, LLC at approximately USD 6.4  billion. Reddit, Inc. has granted the underwriters a 30-day option to purchase up to an additional 3.3 million shares of common stock as part of the listing. Following the transaction, Advance Publications, Inc. retained a 33.5% minority stake,  Fidelity Investments retained a 9.3% minority stake, Tacit Investment Management retained a 5.5% minority stake, Tencent Investment retained a 9.4% minority stake, and Vy Capital retained a 5.4% minority stake in Reddit, Inc., respectively.
 
The company offers an online community that allows users to submit links, vote, read the news, discuss, connect, and share or comment on content anywhere on the web. It also enables users to submit articles where they can receive an inducement for submitting engaging articles. The company's posts are composed of different types of categories such as relationships, sports, gaming, beauty, health and fitness, learning, parenting, books and writing, music, art and design, travel, memes, and more.

The company generates revenue through its premium package, which is USD 49.99 yearly and USD 5.99 for monthly subscriptions.

Reddit, Inc. plans to make strategic investments in areas including video, advertising, consumer products, and expanding into international markets.

## Funding rounds

- Series F, Sep 11, 2021, $315M — Advance Publications, Inc., Vy Capital, Tencent Cloud Europe B.V., Apollo Projects
- Series F, Aug 11, 2021, $410M — Fidelity Investments
- Series E, Feb 8, 2021, $368M — Advance Publications, Inc., Vy Capital, Inclusive Ventures, Tencent Cloud Europe B.V., Apollo Projects
- Series D, Jan 25, 2019, $300M — Fidelity Investments, Andreessen Horowitz, Tencent Investment, Vy Capital, Quiet Capital
- Series C, Jul 11, 2017, $182M — Hong Shan, Fidelity Investments, Andreessen Horowitz, Coatue Management, Vy Capital, Reshape Holdings
- Series B, Sep 30, 2014, $45M — Hong Shan, Andreessen Horowitz, Y Combinator
- Seed, Jun 1, 2005, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series B
- Hong Shan — Series B, Series C
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series B, Series C, Series D
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series C, Series D, Series F
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series C
- Vy Capital (https://capitalatlas.ai/funds/vy-capital) — Series C, Series D, Series E, Series F
- Reshape Holdings (https://capitalatlas.ai/funds/reshape-holdings) — Series C
- Tencent Investment — Series D
- Quiet Capital (https://capitalatlas.ai/funds/quiet-capital) — Series D
- Advance Publications, Inc. — Series E, Series F
- Inclusive Ventures (https://capitalatlas.ai/funds/inclusive-ventures) — Series E
- Tencent Cloud Europe B.V. — Series E, Series F
- Apollo Projects (https://capitalatlas.ai/funds/apollo-projects) — Series E, Series F