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Is Reddit Open for Business?

February 23, 2023

Reddit was launched by two University of Virginia students in 2005. A year later, Condé Nast, the venerable magazine publisher, purchased a majority stake in the site. Fast forward to 2023, and the founders are long gone. The site has roughly 430 million monthly users and has raised $1.3 billion from investors, per Crunchbase. Annual revenue is approximately $400 million, according to The Information, which also reported the company aims to go public in 2023 at a hope-for valuation of $15 billion.

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