Reddit was founded in 2005 and organizes its content into user-created communities — subreddits — of which the company reports over 100,000 active. It was incorporated as a Delaware corporation in May 2011 and completed its initial public offering in March 2024.
How content is ranked and governed
Two mechanics distinguish Reddit from feed-ranked social platforms, and the company describes both in its own filings:
- Voting. “Every post and comment on Reddit, regardless of the author, starts with one upvote, and must earn its visibility through community members upvoting it and boosting it to the subreddit’s front page.” Votes are cast anonymously.
- Volunteer moderation. Reddit’s content moderation “depends on users who volunteer to be moderators of their communities” — the company lists this dependence among its risk factors. Moderators set and enforce rules within their own subreddit rather than applying a single centrally administered standard.
The combination means a subreddit’s norms are set largely by its own members, and the same content can be permitted in one community and removed in another.
Reported scale
Reddit reports Daily Active Uniques of 121.4 million for the three months ended December 31, 2025, up 19 percent year over year, with average revenue per unique of 2.2 billion.
Sources
- 01.
U.S. Securities and Exchange Commission. Reddit, Inc. Form 10-K for the fiscal year ended December 31, 2025. Source for the 2005 founding ("Open, Growing Archive of Human Knowledge (2005– ) Reddit turned 20 this year"), incorporation as a Delaware corporation in May 2011, the March 2024 IPO on the NYSE under RDDT, "over 100,000 active communities," Daily Active Uniques of 121.4 million for the three months ended December 31, 2025 (up 19% year over year), ARPU of $5.98, 2025 revenue of $2.2 billion, the stated mission, the description of the voting system ("Every post and comment on Reddit, regardless of the author, starts with one upvote, and must earn its visibility through community members upvoting it"; voting is "completely anonymous"), and the reliance on "users who volunteer to be moderators of their communities."