On reddit, registered community members can submit content, such as text posts or direct links, and they can vote submissions "up" or "down" to organize the posts and determine their position on the site's pages. Content entries are organized by areas of interest called "subreddits".
Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian. Conde Nast Publications acquired the site in October 2006. Reddit became a direct subsidiary of Conde Nast's parent company, Advance Publications, in September 2011.
As of August 2012, Reddit operates as an independent entity, although Advance is still its largest shareholder. Reddit is based in San Francisco, California. In October 2014 Reddit received $50 million in funding from Snoop Lion and other investors.