Reddit – Company Overview

Reddit is a popular news aggregation and a content rating website that you can find out there on the internet. It is an American owned company. People who sign up with Reddit are provided with the chance to submit content to the website in the form of text posts, links and images. Then they will be up-voted and down-voted by the members. 

All the posts that are available in Reddit are subjected to sub-reddits. These are nothing but boards created by the users. You will be able to find them covering a variety of topics, such as science, news, books, music, video games, movies, food and fitness. When the links are getting more and more up-votes, they will get to the top of the sub-reddit. In other words, the piece of content will be displayed right on the front page of the website.

There are some strict rules, which all the people who use Reddit should adhere to. For example, there is no possibility to share content that promotes harassment on Reddit. There is a dedicated team of moderators assigned by Reddit, who continuously keep on monitoring the website. When they notice that something has been published outside the rules and regulations, they take appropriate measures to remove that immediately.

Popularity of Reddit

Reddit is one of the most popular websites out there in the world. According to the stats of 2019, it is there within the top 10 most visited websites within United States. On the other hand, it can be found among the top 20 most visited websites out there in the world as well.

More than 55% of the Reddit users are from United States. There is a considerable percentage of Reddit users from United Kingdom and Canada as well.

History of Reddit

Reddit was developed by Steve Huffman and Alexis Ohanian. They were room-mates by that time. The development activities of this platform took place in the year 2005. During this time, both of them attended a lecture of Paul Graham, who was a programmer as well as an entrepreneur. This lecture took place at the University of Virginia. That’s where they got to know about the Y Combinator. They applied for it and they were able to come up with Reddit. 

The initial idea that these two had was to develop a mobile menu. Along with that, they wanted to help people to order food with simple text messages. However, it was not a successful venture. That’s where they came up with the idea behind Reddit. This idea was successful and it was backed up by Graham as well. Along with that, the very first version of Reddit was launched back in the year 2005. 

Technology behind Reddit

Reddit is developed with the programming language called Lisp. However, most of the components of the network were later re-written with the help of Python. That’s because the developers wanted to gain better access to code libraries. Along with that, they could achieve better flexibility with the developments as well.

Advertising

Reddit is currently making most of its money through advertisements. In fact, the company is selling advertisement space available on the website since the year 2009. As of now, there are two different methods available for the interested people to go ahead and advertise on the website. They can either advertise via the self-serve ads, or they will be able to advertise with the managed ads. 

The pricing for Reddit advertisements is quite expensive. In fact, the managed advertisements are starting at a price tag of $30,000. However, you don’t have to spend that much to go ahead with the self-serve advertisements offered by Reddit. You will be able to advertise what you want to showcase for a lower price tag as $5. This provides freedom for anyone to use the platform and go ahead with advertisements. 

The self-serve advertisements offered by Reddit are using a second price based auction system. In here, you will have to pay a cent higher than the highest bidder to secure your advertisement. All the advertisements that you can find on Reddit website are clearly marked. There are designated areas for the display of advertisements. Therefore, users will never be misled by the advertisements that can be found on the website.

You will not be able to discover any non-obnoxious advertisements on the platform. On the other hand, Reddit doesn’t allow space for the auto-play and flash based advertisements as well. 

Reddit Gold Membership

When analyzing Reddit, it is important to take a look at the Reddit Gold membership as well. If you want to become a premium member on Reddit and access all the premium functionalities, you should think about getting your hands on the Reddit Gold membership. You will be able to get the Reddit Gold Membership of a monthly price of $3.99. Or else, you can even get hold of an annual membership for just $29.99 per year. This is another prominent method on how Reddit is making money.

Third-party service providers are delivering some added discounts or benefits to the marketing exchange. Therefore, you can expect numerous third party offers to be seen. In addition to that, you will be able to get a great customer support with the Reddit Gold Membership as well.

Reddit branded products

Similar to other major websites, Reddit is offering its own branded products. In fact, Reddit had a dedicated marketplace for it. However, this marketplace was closed down in the year 2015. However, a part of it still remains open. Therefore, people who are interested in purchasing Reddit branded products will be able to buy snow dolls, t-shirts and stickers. 

Back in the year 2014, Reddit went ahead and purchased Alien Blue. Along with that, it is serving as the unofficial Reddit app for the iPads and iPhones. Later, Reddit was able to develop their own app for the iOS users to install on their devices.

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