The company and its founders attracted a great deal of attention when they protested against the US draft law against online piracy (SOPA) in 2012, and, together with well-known websites like Wikipedia, took their entire domain offline in a “ blackout.” Reddit became one of the first major websites to accept payment in the cryptocurrency Bitcoin for their paid subscription Reddit Gold, gifts, and Redditmade (subreddit fan articles that are for sale). Gold editors get access to the “Lounge,” a restricted subreddit, and a larger range of functions for around $4 per month. A year earlier, the platform introduced the Reddit Gold subscription model. In 2011, the number climbed to 60,191 and Reddit climbed out of Condé Nast’s shadow, and became independent under their parent company Advance Publications. While the developers initially used dummy accounts to boost activity on the site, Reddit already had 10,926 subreddits by 2008. The other founders also went their separate ways once their contracts were over. Condé Nast publications bought the company and kicked Swartz off the project shortly afterwards. Just a short time later, they received startup capital from the same company for their new project “Reddit: the front page of the internet.” Psychiatrist Christopher Slowe and the now deceased internet activist Aaron Swartz, along with his company Infogami, joined the development team.ĭespite personal setbacks, the young founders continued to work on the project. The idea was ultimately blocked, but they had set their foot in the door. Shortly after graduation, they wanted to develop a site called “MyMobileMenu” with the help of startup investors Y Combinator. Reddit was founded by Alexis Ohanion and Steve Huffman, who met at the University of Virginia.
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