The Reddit Co-Founders Faced a Transformative Rejection in College — Here’s How They Bounced Back to Start a $6.5 Billion Business

Reddit grew for nearly two decades before going public in March at around a $6.5 billion valuation. Though the social media forum site now boasts 91 million daily active users, its success was not a certainty. In fact, Reddit’s co-founders were rejected by startup accelerator Y Combinator at the start of their entrepreneurial journey.

“So, Alexis [Ohanian], my co-founder, college roommate at the time, he and I applied to Y Combinator,” Reddit CEO Steve Huffman told LinkedIn co-founder Reid Hoffman on Thursday. Their initial idea was to create a way to order food from cell phones — which wasn’t the norm in 2005.

Y Combinator rejected the idea but asked Ohanian

→ Continue reading at Entrepreneur

More from author

Related posts

Advertisment

Latest posts

Podcast stars are inking massive nine-figure deals. Here’s why companies are writing the big checks | CNN Business

New York CNN  —  Podcasting superstars are taking their fame to new heights as media companies offer nine-figure deals...

How did we get pumpkin spice everything? | CNN Business

New York CNN  —  Nothing says fall like a pumpkin spice latte. And over the past decade, that sentiment...

Want to Save Time and Increase Revenue? Try This Ultimate 3-Step AI Productivity Hack for Busy Entrepreneurs

Tackle AI's toughest questions with Ben Angel, mapping the business terrain for 20 years. Master the AI landscape and reach peak productivity and...