REDDIT has become one of the most popular websites for discussions and social news since its inception in 2005.
As of December 2020, Reddit ranks as the 21st-most visited website in the world and 13th most-visited website in the US.
5
What is Reddit and how does it work?
Reddit is a social news aggregation website that covers a variety of topics posted by its users.
Registered members of the website can share content like links, images, and texts and can interact with other users regarding the post.
Posts are typically organized by subject into categories called “communities” or “subreddits.”
5
Users can vote the post with a thumbs up or down and the one with the most positive votes appears towards the top of their subreddit.
If the post receives enough thumbs up it gets featured on the site’s front page.
The website is completely free and does not require an email address to access, just a username in order to start posting.
Why is it called Reddit?
The name Reddit is a play-on-words with the phrase “read it.”
Users of the website call themselves “redditors.”
The site’s headquarters is located in San Francisco, California and offers multilingual versions for users around the globe.
5
Condé Nast Publications acquired the site in October of 2006, shortly after it was founded.
Five years later, Reddit became an independent subsidiary of Condé Nast’s parent company, Advance Publications.
As of February 2019, a $300 million funding round led by Chinese conglomerate Tencent raised the company’s valuation to $3 billion.
Is Reddit a safe site?
Subreddits are overseen by moderators who volunteer to enforce site rules and remove posts and comments that violate the terms and conditions.
They also work to keep the subreddit discussions tailored to the topic.
Not Safe For Work (NSFW) posts are not ranked in the top of the site and the subredditer does not filter out topics users can discuss.
5
Erik Martin, then general manager of Reddit, explained to Memeburn site that their approach is to give the community moderators or curators the decision to pick “what is on the front page” and what can be discussed.
The site continues to be safe as long as users stick to the community rules and age-based content.
NSFW content only allows users 18 or older to access.
When did Reddit become popular?
Despite being around since 2005, Reddit grew in popularity in 2011 when it began reaching one billion page views a month.
Just three years later the site had accumulated over 71.2billion views.
Reddit boasts more than 52million daily active users.
Reddit hit headlines worldwide in January 2021 after its users sent GameStop stock prices skyrocketing.
5
FOOLS GOLD
Why is the price of silver going up?
TAKING STOCK
What are stonks and where did the GameStop meme come from?
GRABBING BULL BY HORNS
Wall St bull statue covered after being ‘vandalized’ during frenzy
TIGHT SQUEEZE
Robinhood app ‘limits customers to just ONE SHARE of GameStop stock’
ARCHER TELLING THE TRUTH?
Robinhood CEO denies wild GameStop stock conspiracy theory
A famous Reddit group called WallStreetBets, that boasts some 4.7million members, urged people to buy and hold GameStop shares – punishing short sellers with soaring prices.
News agency AFP said it showed the masses rebelling against one-percenters hoarding the world’s wealth.
The social media-fueled movement sent shares in the US video game retail chain rocketing from less than $20 to a peak of $492 on January 28, 2021, costing hedge funds which had bet that GameStop stock would tank.
