Reddit.com has become one of the most successful Web 2.0 businesses and Frostfire met up with Alexis Ohanian, Reddit´s Co-founder to learn more.
Where did your idea come from?
Steve and I had applied to YC with a totally different idea that ended up getting rejected. The next morning PG called us back, offering to let us into the summer program if we came up with a new idea. We turned right around and met with him that afternoon.
He suggested we build a front page of the web. We laughed at first, but then realized he was serious, so we started figuring out how to do it.
What is your elevator pitch?
We never discuss reddit while inside an elevator. Just stare straight ahead.
How is your proposition different from competitors? Is Digg still your main competitor?
Reddit is a place for people to find interesting content online -- a "social news" site run by readers, not editors. You've heard that before, but we started reddit without any competitors in mind. I think this is the reason why we've been so successful in distinguishing ourselves. The front page is fundamentally unique, because links actually rise and fall throughout the day as they heat up or cool down in voting activity. This not only helps insulate us from gaming, but it also makes for a very different user experience. Our readers are reloading throughout the day to watch their submissions float or sink.
While we're very happy with the growth we've gotten, we'd like to make reddit the destination for everyone -- regardless of their interests -- when they want to know what's going on in the world.
What are your biggest successes so far?
The most special for me happened within the first two months. It was the first day neither Steve nor I had to participate on reddit (vote, submit, etc.) and everything still chugged along. The site was alive. It was an incredible feeling of validation.
How will/do you make money do you plan to introduce different revenue models in the future?
Advertising is the boring way. We'd love to do more in the way of licensing and we're currently polishing the tools to let third parties do just that.
Do you plan to develop the site with new features and more extensive categories?
Yes. These new features should be released <very soon>. If we've learned anything from the last two years of working on reddit, it's that the more control we give to users, the better. Expect more subreddits, but not built by the reddit team...
What advice would you give to potential entrepreneurs needing a little inspiration?
Do it. Especially if you're at a point in your life when you don't have much responsibility (and face it, few recent college grads do). When you got nothing, you got nothing to lose (apologies to Bob Dylan).
Also, be skeptical -- especially of 24 year olds giving advice. Certainly take advice, just not blindly; you're the one who must live with the decision, so think it through.
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