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The points do not lead to a prize as they are meant to stand in as a badge of honor for the user among their peers, although redditors have attempted to redeem their points before.Reddit also allows submissions that do not link externally.As of August 2012, Reddit operates as an independent entity, although Advance is still its largest shareholder. In October 2014, Reddit raised million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto.The site is a collection of entries submitted by its registered users, essentially a bulletin board system.Users earn "post karma" and "comment karma" for submitting text posts, link posts, and comments, which accumulate as point values on their user profile."Post karma" refers to karma points received from text and link posts, while "comment karma" refers to karma points received from comments.

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Redditors can also post comments about the submission, and respond back and forth in a conversation-tree of comments; the comments themselves can also be upvoted and downvoted.

The front page of the site itself shows a combination of the highest-rated posts out of all the subreddits a user is subscribed to.

Front-page rank – for both the general front page and for individual subreddits – is determined by the age of the submission, positive ("upvoted") to negative ("downvoted") feedback ratio and the total vote-count.

Users may also be gifted "Reddit gold" if another user particularly valued the comment or post, generally due to humorous or high-quality content; this process is known as "gilding".

"Reddit gold" unlocks several features not accessible to regular users, such as comment highlighting, ad-blocking, exclusive subreddits, and a personalized Snoo (known as a "snoovatar").

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