Alexis Ohanian, an American technology entrepreneur, has a net worth of $150 million. He co-founded Reddit in 2005 alongside Steve Huffman, selling it to Condé Nast in 2006 for an estimated $10–$20 million.
Despite his pivotal role in Reddit’s early days, Ohanian does not own a significant stake in the company today.
However, through his venture capital firm, Initialized Capital, he has made lucrative investments in companies like Coinbase, Instacart, Opendoor, and Flexport. Initialized Capital manages approximately $3.2 billion in assets.
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Early Life and Education
Born Alexis Kerry Ohanian on April 24, 1983, in Brooklyn, New York, he is the son of Anke and Chris Ohanian.
His grandparents were Armenian refugees. Ohanian graduated from Howard High School in Maryland in 2001 and later attended the University of Virginia, where he majored in commerce and history.
Reddit: The Beginning of a Tech Empire
After college, Ohanian and Steve Huffman pitched an idea called MyMobileMenu to Y Combinator, but it was rejected.
They then came up with Reddit, which Y Combinator accepted into its first-ever batch of startups in 2005. A year later, Condé Nast acquired Reddit, marking Ohanian’s first major business success.
He remained involved with Reddit as a board member and returned as a full-time executive in 2015. However, in 2018, he stepped down to focus on investing.
In June 2020, following the killing of George Floyd, Ohanian resigned from Reddit’s board and advocated for a Black candidate to take his place. Michael Seibel, a Black entrepreneur, later filled the role.
Other Business Ventures
Aside from Reddit, Ohanian has founded and invested in multiple companies:
- Breadpig (2007) – A company selling “geeky” products, with profits donated to charities.
- Hipmunk – Served as the marketing director for this travel search startup.
- Das Kapital Capital (2010) – A firm focused on startup investing and consulting.
- Y Combinator – Served as a full-time partner before stepping down in 2016.
Initialized Capital: Investment Success
In 2010, Ohanian co-founded Initialized Capital, which became a powerhouse in early-stage venture capital investments. The firm has invested in successful startups like:
- Coinbase – A 2012 investment of $200,000 later turned into millions as the cryptocurrency exchange grew.
- Instacart, Opendoor, Zenefits, and Cruise – Other profitable investments.
- Kinside (2019) – A childcare startup where he invested $3 million.
Cryptocurrency and Ethereum Investment
Ohanian invested $15,000 in Ethereum in 2014. By 2023, his stake was valued at $80 million, and at its peak in 2021, it was worth over $230 million.
Activism and Advocacy
Ohanian is a strong advocate for net neutrality and universal paid paternity leave:
- Net Neutrality: Played a major role in opposing the Stop Online Piracy Act (SOPA) and PROTECT IP Act (PIPA) in 2012. He organized national protests and spoke before Congress.
- Paternity Leave: After his wife’s health complications during childbirth, he became a vocal advocate for paid family leave and lobbied lawmakers in Washington, D.C.
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Real Estate Holdings
In 2011, Ohanian purchased a Brooklyn condo for $1.245 million. In 2022, he listed it for $2.3 million.
