Reddit is an entertainment, social networking and news service. Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian. Condé Nast Publications acquired the site in October 2006. Reddit became adirect subsidiary of Condé Nast's parent company, Advance Publications, in September 2011. As of August 2012, Reddit operates as an independent entity, although Advance is still its largest shareholder. Reddit is based in San Francisco, California. In October 2014 Reddit received 50 million in funding from Snoop Lion and other investors.