Bowling Green State University ScholarWorks@BGSU

Media Company Leader Presentations School of Media and Communication

Spring 2020

Reddit:

Lina Millsap Bowling Green State University

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Recommended Citation Millsap, Lina, ": Steve Huffman" (2020). Media Company Leader Presentations. 31. https://scholarworks.bgsu.edu/mclp/31

This Book is brought to you for free and open access by the School of Media and Communication at ScholarWorks@BGSU. It has been accepted for inclusion in Media Company Leader Presentations by an authorized administrator of ScholarWorks@BGSU. Steve Huffman: CEO & Co-Founder of Reddit

Presentation by Lina Millsap What is ?

It is a mass collection of forums where people create content, have conversations, and share the content of others. It is divided into communities or “subreddits” that users follow because of their interest in the topic or content. ● Communities for: Breaking news, popular theories, sports, cute animals, etc About Reddit: A social Business

#5 Most visited site in the US (On Alexa) 430 Million average monthly active users 130,000 Active communities

Source: Reddit.com Business Model of Reddit: ● Dual Revenue Source: Advertising and paid subscriptions; maximizing profit ● Working towards becoming more attractive to advertisers; growing more ad generated revenue ● The company reported 200 million in venture capital funding, making the company worth 1.8 billion (Fortune.com) ● Grown from 10 full time employees in 2012 to 400-750 employees ● Introducing new content policies, utilizing media technology advancements; app for iOS and Android; new infrastructure advancements Steve Huffman: Co-Founder and CEO

Background: ● American businessman, engineer, and web developer who co-founded Reddit in 2005 ● Born November 12, 1983 in Virginia ● Began programming computers at 8 ● Studied computer science at the - where he met (co-founder Reddit/ known in popular culture as 's husband) Huffman/Reddit Chronology:

2015-2015

2005 2009 2010 2011 2014 2015

Huffman Graduates College Huffman Huffman creates Huffman makes Huffman speaks re-appointed CEO; Reddit Founded and Ohanian Hipmunk (Travel Inc. magazine’s 30 about regretting Ohanian also leave Reddit Search Engine) under 30 list selling Reddit returns (Turmoil/Co ntracts End)

2016-Present

2016 2017 2018 2020 Ohanian leaves; Reddit/Trump Website design Hipmunk shuts new content Controversy overhauled down; TikTok guidelines controversy Difficulties/Risks:

● Free/censored speech controversies throughout years ● 3 CEOs one year/ Unrest over leadership ● Trump controversy ○ Reddit modified users content in subreddit about Trump ● User strike/sitewide blackout ● 2020: Huffman accuses TikTok of being parasitic; tapping into audio, fingerprints, and being “spyware” ○ Reddit users call him hypocritical Management Philosophy: ● Transformational Leadership: speaks of being force of good, having an opportunity to do right ● Connector/Investor Mindset: ○ Wanting Reddit to have a sustainable future that benefits the communities ○ Develop technology ○ Cares about trusted partnerships with employees, trying to mend relationships with employees after his return. ● Enduring leadership behaviors: values ethics, trust, integrity, tries to save Reddit’s image ● Company has gone from small startup to 430 million monthly users ● Expertise in brand development, entrepreneurship, and development Sources:

● Editorial Staff, P. P. (2016, November 14). Steve Huffman: American businessman - Biography and Life. Retrieved from https://peoplepill.com/people/steve-huffman/

● Editors, TheFamousPeople.com (2019, November 13). Who is Steve Huffman? Everything You Need to Know. Retrieved April 14, 2020, from https://www.thefamouspeople.com/profiles/steve-huffman-51180.php

● Fiegerman, S. (2014, December 3). Aliens in the valley: The complete and chaotic history of Reddit. Retrieved from https://mashable.com/2014/12/03/history-of-reddit/

● Fox, B. (2019, May 29). Steve Huffman Joins Bishop Fox Board of Directors. Retrieved April 10, 2020, from https://www.prnewswire.com/news-releases/steve-huffman-joins-bishop-fox-board-of-directors-300858492.html

● Huddleston, T. (2017, July 31). Reddit Is Now Valued at Nearly $2 Billion. Retrieved April 14, 2020, from https://fortune.com/2017/07/31/reddit-200-million-funding/

● Isaac, M. (2015, July 16). Reddit Changes Content Rules as Steve Huffman Takes Charge. Retrieved April 15, 2020, from https://www.nytimes.com/2015/07/17/technology/reddit-steve-huffman.html

● Lagorio-Chafkin, C. (2019, July 11). Reddit Was 'Actively Committing Suicide.' Here's How Steve Huffman Rebuilt Its Culture--and Saved the Company. Retrieved April 10, 2020, from

https://www.inc.com/magazine/201908/christine-lagorio-chafkin/steve-huffman-reddit-alexis-ohanian-ceo-crisis-culture.html

● Meek, A. (2020, February 29). Reddit CEO calls TikTok 'parasitic,' sparking a truly insane discussion on – where else – Reddit. Retrieved April 15, 2020, from

https://bgr.com/2020/02/28/reddit-vs-tiktok-ceo-steve-huffman-parasitic/

● Steinbaur, T. (2012). Information and social analysis of reddit. Retrieved from TROYSTEINBAUER@ CS. UCSB. EDU.

● The Conversation Starts Here. (n.d.). Retrieved April 9, 2020, from https://www.redditinc.com