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Reddit became a subsidiary of Condé Nast's parent company, Advance Publications, in September 2011.
As of August 2012, Reddit operated as an independent entity, although Advance was its largest shareholder. In October 2014, Reddit raised million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto.
Reddit gold creddits are like gift certificates: each creddit allows a user to give one month of Reddit gold to someone else. They serve as a badge of honor for a user among their peers, although redditors have attempted to redeem points before.
Users earn "post karma" and "comment karma" points for submitting text posts, link posts, and comments, which accumulate on their user profile.
In December of that year, Mister Splashy Pants was announced as the winner of the competition.
On the site, redditors commemorate their "cake day" once a year, on the anniversary of the day their account was created.
"Reddit gold" unlocks several features not accessible to regular users, such as comment highlighting, ad-blocking, exclusive subreddits, and a personalized Snoo (known as a "snoovatar").
Reddit also created a system of points called "creddits".