According to a blog post, Reddit has raised $50 million in funding led by Sam Altman, president of Y Combinator, with participation from Alfred Lin of Sequoia Capital and Marc Andreessen of Andreessen Horowitz. Other investors participating in this round include Peter Thiel, Ron Conway, Paul Buchheit, Jared Leto, Jessica Livingston, Kevin and Julia Hartz, Mariam Naficy, Josh Kushner, Snoop Dogg, and Yishan Wong.

reddit was founded by Steve Huffman and Alexis Ohanian in 2005, and is an online community where users submit, vote, and comment on content, stories, and discussions. The hottest stories as determined by the community through discussions and voting rise to the top of the site, while cooler stories sink. Anyone can create a community (called a 'subreddit'); each subreddit is independent and moderated by a team of volunteers. reddit is open source, and community members are constantly tinkering and contributing features and translations back to the site. In October 2013, reddit received more than 4.9 Billion page views and 85.9 million unique visitors. In addition, reddit also hosts the world's largest gift exchange as listed in the Guinness Book of World Records through redditgifts.com, and features video and original programming through reddit.tv.