Reddit has no parent company. Advance Magazine Publishers, the Newhouse family media group, is the largest single holder with roughly 22% of outstanding Class A and Class B shares as of March 31, 2026. Reddit is a US public company trading on the NYSE, worth about $28.9 billion on August 19, 2026.
Reddit ownership at a glance
| Ownership type | Public company, dual-class share structure |
|---|---|
| Parent company | None, independent |
| Largest shareholders | Advance Magazine Publishers, Baillie Gifford, Steven Huffman |
| Market cap | $28.9 billion (August 19, 2026) |
| Last funding round | IPO, March 21, 2024, $748 million raised at $34 per share |
| Founded | 2005 |
| Headquarters | San Francisco, California |
| CEO | Steven Huffman |
Who owns Reddit today?
Advance Magazine Publishers held approximately 22% of Reddit’s outstanding Class A and Class B common stock as of March 31, 2026, according to the company’s quarterly report. Advance also holds more than 10% of voting power, which makes it a related party under SEC rules.
Advance bought Reddit through Condé Nast in 2006 for a reported $10 million, 16 months after launch. Reddit was spun out as a separate Advance subsidiary in 2011.
Chief executive Steven Huffman reported beneficial ownership of 48,143,643 shares in May 2026, or 24.8% of Class A stock. That count includes shares he votes under an agreement with Advance. His own position is 3.9% of Class A stock and 3.0% of all capital stock.
Baillie Gifford, the Edinburgh investment manager, disclosed 7,309,109 shares, or 5.2% of Class A stock, on March 31, 2026. Reddit had 141,965,642 Class A and 50,543,398 Class B shares outstanding as of April 29, 2026. Employees hold equity through restricted stock units.
Who controls Reddit?
Ownership and control are not the same at Reddit. Class A shares carry one vote each, Class B shares carry ten, and Class C shares carry none.
Huffman reported about 70.7% of total voting power as of May 4, 2026, counting shares subject to the Advance voting agreement. Reddit states in its proxy that it qualifies as a controlled company under NYSE rules because Huffman can vote a majority of outstanding voting power. The same filing notes a Tencent voting agreement has ended.
The board has eight members, seven of them independent, with David Habiger as chair and Robert Sauerberg Jr. as vice chair. A March 2024 governance agreement gives Advance two board designees, currently Steven Newhouse and Sauerberg, plus a nonvoting observer. Advance consent is required to remove the CEO, amend the charter, or complete a change of control.
Who are Reddit’s largest shareholders?
Index ownership grew after Reddit joined the S&P 500 on August 18, 2026, since tracker funds must hold the stock to match the benchmark. Baillie Gifford is the only Class A holder above the 5% disclosure threshold in Reddit’s 2026 filings.
- Advance Magazine Publishers: approximately 22% of Class A and Class B shares combined, March 31, 2026
- Baillie Gifford & Co: 7,309,109 shares, 5.2% of Class A, March 31, 2026
- Steven Huffman: 3.9% of Class A, 3.0% of total capital stock excluding voting agreement shares
- Index and mutual funds: positions expanded following S&P 500 addition in August 2026
- Retail investors: Reddit reserved 8% of IPO shares for users and moderators in 2024
A $1 billion buyback authorized on February 5, 2026 reduces the share count over time, lifting the percentage held by everyone who does not sell. Pinterest’s shareholder register uses a similar two-tier voting design.
Who are the biggest investors in Reddit?
Reddit raised roughly $1.3 billion privately before listing, from venture firms, crossover funds, and one Chinese technology group whose 2019 investment drew protests from users at the time.
- Advance Publications: acquired the company in 2006 for about $10 million and never fully exited
- Tencent: contributed $150 million of the $300 million Series D in February 2019, which valued Reddit at $3 billion post-money
- Fidelity Management and Research: led the $410 million Series F in August 2021 at a valuation above $10 billion
- Vy Capital: led a $250 million round in February 2021 that valued Reddit at $6 billion
- Andreessen Horowitz and Sequoia Capital: participated across multiple rounds from 2014 onward
Reddit began at Y Combinator in 2005, and Sam Altman later joined both the cap table and the board. Private AI companies structure their backers differently, as the split of Anthropic’s investor base shows.
Is Reddit publicly traded?
Yes. Reddit has traded on the New York Stock Exchange under the ticker RDDT since March 21, 2024. The IPO priced 22 million shares at $34, raising $748 million, of which $519 million went to the company.
Second-quarter 2026 revenue reached $804.9 million, up 61.1% year over year, with earnings of $1.25 per share. Many large AI companies remain private, and the current listing pipeline tracks which have filed.
Reddit valuation by funding event, 2019 to 2026 (USD billions)
|
$3B
|
$6B
|
$10B
|
$6.4B
|
$28.9B
|
| Series D Feb 2019 |
Private round Feb 2021 |
Series F Aug 2021 |
IPO Mar 2024 |
Market cap Aug 2026 |
Frequently asked questions
Who founded Reddit?
Steve Huffman and Alexis Ohanian founded Reddit in 2005 as University of Virginia roommates, through the first Y Combinator batch. Aaron Swartz joined months later when his company merged with Reddit. Huffman returned as CEO in 2015.
Does Condé Nast own Reddit?
No. Condé Nast bought Reddit in 2006, but Reddit was spun out in 2011 as a separate company under Advance Publications, which owns both. Advance now holds a minority stake of about 22%.
Does Tencent own Reddit?
Tencent invested $150 million in Reddit’s 2019 Series D but does not own or control the company. Its voting agreement with CEO Steve Huffman has terminated, and it holds no board seat or governance rights.
How much of Reddit does Advance Publications own?
Advance Magazine Publishers held roughly 22% of Reddit’s outstanding Class A and Class B shares as of March 31, 2026. It also has two board designees and consent rights over major corporate decisions.
Who has the most voting power at Reddit?
Steve Huffman reported about 70.7% of total voting power in May 2026, including Advance shares he can vote under an agreement. His personal economic stake is around 3% of all capital stock.
