Reddit transformed from a community social science project into a sustainable business, recognizing that revenue is essential for its operation.

In 2010, we launched Reddit Gold as a subscription service out of desperation to generate revenue since advertising wasn't sufficient, and it surprisingly raised more money in one day than we made in ads that month.

Condé Nast acquired Reddit for $10 million, presenting a crucial decision for the founders: to sell to an established media company or gamble on Reddit's potential as part of the internet's future.

Reddit is now the 18th most visited website globally, showcasing its significant cultural impact and user engagement.

We chose to pursue advertising as a business model to keep Reddit free and open, aligning with our values and community expectations.

At that time, there wasn't a clear monetization route for Reddit; we didn't have advertising or any real way to generate revenue, so we operated as a lean startup to survive with scarce resources.

By the time of the acquisition discussions, I was working 16-hour days, balancing my responsibilities at Reddit with my graduate studies, which was a challenging period for me. When I received an offer to sell Reddit for $10 million, I realized I could make life-changing money in just a year of work, which was more than my parents would earn in their entire lives.

With my return, we redesigned the site, moved Reddit onto mobile, and focused on building a sustainable business model.

In 2011, Condé Nast spun Reddit out into an independent company again, which is rare in my experience, allowing us to fundraise and bring in new talent like CEO Yishan Wong.