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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.
Dozens of submissions cycle through these front pages daily.
Reddit became a direct 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. In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto.
As of May 2016 can vote for or against them (upvote/downvote).