Alexis Ohanian is a tech industry giant with a net worth of $150 million as of 20241. He’s not just a co-founder of Reddit. He’s also invested in over 40 companies worth $1 billion or more2.
In 2005, Ohanian started Reddit with his friend Steve Huffman3. They built it in just three weeks. It became a huge online community3. Reddit was sold to Condé Nast in 2006 for $10 million to $20 million1.
Ohanian has also made a big impact as a venture capitalist. He co-founded Initialized Capital, managing over $500 million1. His 776 Foundation fights inequity worldwide. It’s committed $20 million to support young climate activists2.
Ohanian is also a strong voice for social causes. He’s fought for an open internet and supported diversity in tech1. In 2020, he stepped down from Reddit’s board to make the internet more inclusive2.
Key Takeaways
- Alexis Ohanian co-founded Reddit in 2005, which was later acquired by Condé Nast in 2006.
- Ohanian has an estimated net worth of $150 million as of 2024, making him a successful internet entrepreneur and investor.
- He has co-founded several venture capital firms, including Initialized Capital and Seven Seven Six, and has invested in over 40 “unicorn” companies.
- Ohanian has been actively involved in social activism, advocating for causes such as net neutrality and diversity and inclusion in the tech industry.
- In addition to his professional pursuits, Ohanian is an advocate for work-life balance and paid family leave, encouraging fathers to take paternity leave.
Early Life and Cultural Heritage
Alexis Ohanian, born in 1983 in Brooklyn, New York4, has a unique background. His grandparents were Armenian Genocide refugees, and his mom was German. He grew up speaking German, blending his Armenian and German roots into his identity.
Education and Early Interest in Technology
Ohanian went to Howard High School in Maryland4. There, he started loving technology. He took computer classes and built websites for charities, showing his talent as a tech influencer4.
He graduated from the University of Virginia in 2005 with degrees in commerce and history4. Then, he co-founded Reddit, a huge success.
Growing Up in Maryland
Ohanian’s early years were in Maryland, despite his Armenian and German background. There, he sharpened his tech influencer skills and set the stage for his entrepreneurial success4. The area’s diverse culture and educational chances helped shape his background and future as a startup founder.
“I was really lucky to grow up in a community that embraced technology and innovation. It laid the foundation for my passion for entrepreneurship and my desire to create something that could have a positive impact on the world.”
– Alexis Ohanian, tech influencer and startup founder4
The Birth of Reddit and Rise to Success
In 2005, Alexis Ohanian and his roommate Steve Huffman pitched MyMobileMenu to Y Combinator5. Y Combinator’s founders suggested they start something new. This led to Reddit, a social media platform that became a big deal5. Reddit was part of Y Combinator’s first batch and launched in 20056.
Just 16 months later, Reddit was sold to Condé Nast for $10-20 million5. Ohanian helped raise $65,000 for an orphanage in Africa in just 24 hours5. The platform also helped raise over $20,000 for a girl with Huntington’s Disease5.
In 2012, Ohanian came back to Reddit, leading a funding round with Initialized Capital5. He and Huffman took back the reins in 2015, raising $200 million at a $1.8 billion valuation5. Ohanian left Reddit in 2020 to focus on his venture capital firm and his marriage5.
Ohanian’s time with Reddit lasted 15 years5. It shows the value of enjoying the entrepreneurial journey and not getting stuck in the sunk-cost fallacy5. Today, Reddit is a big deal, with over 1 billion page views a month7.
“Helping others ultimately leads to success in business,” Ohanian believes, echoing the platform’s commitment to building good karma and community engagement7.
Reddit went from a startup to one of the top 40 websites globally7. Ohanian’s leadership and vision have shaped Reddit’s success6. His impact on social media and beyond is huge6.
Venture Capital and Investment Portfolio
Alexis Ohanian, co-founder of Reddit, is known in tech and as a top angel investor and venture capitalist. In 2010, he started Initialized Capital, a firm that has handled over $500 million in three funds8. The firm has invested in big names like Instacart, Zenefits, and Opendoor.
In 2021, Ohanian launched “776,” a new venture capital firm with over $750 million in assets8. Through his firms, he has supported over 40 unicorns, including Coinbase, Hubspot, and Impossible Foods8. He was ranked the top tech investor by CB Insights in 20148.
Ohanian’s smart investments have boosted his wealth and the tech world. His bet on Ethereum is now worth about $17.1 million9. Though not all bets have paid off, like with Zenefits and Clubhouse, his success rate is still high9.
“Alexis Ohanian’s early investment in Ethereum’s pre-token sale is now worth $17.1 million, which he considers his best-ever investment.”9
Ohanian’s work in venture capital has been key in helping many tech startups grow and innovate8.
Social Impact and Internet Activism
Alexis Ohanian fights for a free and open internet. He led campaigns against SOPA and PIPA in 2011-2012. Forbes called him the “Mayor of the Internet,” and The Daily Dot named him the most influential activist of 2012. Ohanian’s activism has shaped the digital world. It keeps the internet a place for innovation, creativity, and free speech10.
Fight for Net Neutrality
Ohanian supports net neutrality, where all internet data is treated equally. In 2015, he organized a phone-a-thon with the FCC and Congress. He aimed to keep the internet open and vibrant10.
SOPA/PIPA Opposition
Ohanian was key in stopping SOPA and PIPA in 2011-2012. He rallied millions to contact their reps. This effort saved free speech and innovation on the internet10.
Diversity and Inclusion Initiatives
Ohanian also fights for diversity and inclusion in tech. He worked on the hijab emoji and started the 776 Foundation. This $20 million program supports marginalized communities worldwide11.
Source Links
- Alexis Ohanian – https://en.wikipedia.org/wiki/Alexis_Ohanian
- Alexis Ohanian Sr. – https://alexisohanian.com/
- Inside the rise of Alexis Ohanian, the cofounder of Reddit and husband to Serena Williams – https://www.businessinsider.com/alexis-ohanian-reddit-cofounder-life-career-education
- Serena Williams’s Husband Alexis Ohanian Is Her Biggest Fan – https://www.townandcountrymag.com/leisure/sporting/a40881542/alexis-ohanian-serena-williams-husband/
- Alexis Ohanian and Reddit’s Origin Story – https://trevorisonline.medium.com/alexis-ohanian-and-reddits-origin-story-2c01b9cc45e
- Growth Story of Reddit to 1 Billion Monthly Users – A Tactical Playbook for Founders and Marketers – https://startupgtm.substack.com/p/growth-story-of-reddit-to-1bn-monthly
- Reddit Co-Founder Alexis Ohanian Explains How He Built A Web Empire | TechCrunch – https://techcrunch.com/2013/10/03/reddit-co-founder-alexis-ohanian-explains-how-he-built-a-web-empire/
- Alexis Ohanian’s Investment Strategy | The Motley Fool – https://www.fool.com/investing/how-to-invest/famous-investors/alexis-ohanian/
- Reddit cofounder Alexis Ohanian reveals which of his investments ‘hurt the most’ – https://www.businessinsider.com/reddit-cofounder-alexis-ohanian-best-investment-worst-2024-8
- Chatting with Reddit Co-Founder Alexis Ohanian about Corgis and Internet Freedom – https://www.vice.com/en/article/chatting-with-reddit-co-founder-alexis-ohanian-about-corgis-and-internet-freedom/
- The internet maverick – Current Magazine – https://www.ecurrent.com/literature/the-internet-maverick/