“We’re passing,” Ohanian recalled Graham saying over the phone. But the next day, Graham said he’d pour money into the project under one condition: “Listen, we still don’t like your idea, but we like you guys, so if you’re willing to change your idea, we’ll fund you.”
Taking Graham’s advice, they soon pivoted to creating a community-based social media forum—and Reddit was born. The company now has over 110 million daily active users and a market cap of over $40 billion.
“It all started with a Waffle House, and the rest is history,” Ohanian said to Wired.
Fortune reached out to Ohanian for comment.
