November 23, 2014 11:04 AM ET

Internet Software and Services

Company Overview of Reddit, Inc.

Company Overview

Reddit, Inc. operates a social sharing and aggregation Website. The company publicizes online items recommended by members. Its service aggregates news stories submitted by users and filters those submissions based on user votes. It also offers a personalized filter on the day's story using previous votes to determine what new things the user might like to read. The company was founded in 2005 and is based in San Francisco, California. As of January 17, 2014, Reddit, Inc. operates as a subsidiary of Advance Publications, Inc.

520 Third Street

Suite 305

San Francisco, CA 94107

United States

Founded in 2005

Key Executives for Reddit, Inc.

Interim Chief Executive Officer and Head of Business Development & Strategic Partnerships
Co-Founder and Executive Chairman
Compensation as of Fiscal Year 2014.

Reddit, Inc. Key Developments

Reddit Announces Executive Changes

Reddit, co-founder Alexis Ohanian has returned to the company as executive chairman, Yishan Wong has resigned as CEO and Ellen Pao has become interim CEO. Altman is president of Y Combinator, the incubator that spawned Reddit in 2005. He was a lead investor in a $50 million investment round in Reddit in September. Sequoia Capital's Alfred Lin and Marc Andreessen of Andreessen Horowitz also invested in Reddit.

Reddit Reportedly Seeks Investors; Andreessen Horowitz And Sequoia potential Buyers

Advance Publications, Inc.’s portfolio, Reddit, Inc. is planning to raise funds. Sources said that the company has reached a preliminary agreement to sell less than 10% of the stake for more than $50 million. That could give the company a valuation of upward of $500 million. According to the news report, potential investors may be Andreessen Horowitz LLC and Sequoia Capital. Some individuals associated with Y Combinator may also be among potential suitors. Sources stated that Advance Publications may continue to hold 50% stake in Reddit. The repot mentioned that Reddit; Y Combinator; Founder, Alexis Ohanian and Advance executives declined to comment.

Reddit, Inc. Appoints Ellen Pao as Vice President of Partnerships

Ellen Pao, formerly of Kleiner Perkins Caufield & Byers, is now vice president of partnerships at Reddit. Pao was junior partner at Kleiner Perkins, which she joined in 2005 and in October filed a gender discrimination suit against. The case is ongoing.

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