“Being a builder, being a creator, means being a little broken because you compulsively MUST make things. You can’t just have ideas, you *must* do them, and I know that’s not an easy personality to live with, or be married to, or related to... but to deny that is to deny who we are.”
Alexis Ohanian is one of the co-founders of Reddit, a social media platform that has served as a hub for discussions related to the cryptocurrency and blockchain space. A well-known entrepreneur and investor, Ohanian started out as a waiter at the restaurant chain Pizza Hut. After that, he worked as a parking garage attendant and then as a product manager for media entity Conde Nast Publications, followed by other endeavors. Along the way, he earned his Bachelor of Arts degree in history and Bachelor of Science degree in commerce from the University of Virginia.
In 2005, Ohanian helped create Reddit. He later co-founded venture capital firms Initialized Capital in 2011 and Seven Seven Six (776) in 2020. In addition to his accomplishments as a founder, Ohanian is also an experienced investor. His lengthy list of investment pursuits includes crypto and blockchain industry projects BitClout, Sky Mavis and more.
Ohanian is not new to the cryptocurrency space, evidenced by his bullish comments on Bitcoin and Ether back in 2018. In 2020, Ohanian pointed out a time of growth and rejuvenation for the crypto industry, signaled by the amount of blockchain-based building he noticed at the time. He also talked about his cryptocurrency holdings and his thoughts on the sector’s longevity. In late 2021, 776 and Polygon unveiled a pool of $200 million intended to go toward Polygon-based Web3 social media projects. The husband of famous tennis player Serena Williams, Ohanian actively posts on Twitter to his audience of more than 500,000.
Early in 2022, 776 unveiled $500 million spread over a pair of funds it launched, aimed mainly at the crypto space. August brought news of another fund from 776 called Kryptos with the aim of raising $177.6 million and scooping up investments during the industry’s bear market.
In the latter half of the year, billionaire Elon Musk took over Twitter, became its CEO, and made changes to the company and platform, including prioritizing free speech. Ohanian chimed in on Twitter, agreeing with the move.
Throughout 2023, Ohanian will likely continue to be led by his evident passion for business and investing. He will likely continue his work with 776, which could include involvement in the cryptocurrency and blockchain space, given past news about crypto industry-focused funds from the player.
He may also logically continue tending to his sizable social media audience, as early January showed notable Twitter activity from the Reddit co-founder. While 2022 proved to be a challenging year for the cryptocurrency space, 776 seemed to still see the sector as an opportunity, based on the news of its Kryptos fund. The firm may show continued interest in the sector in 2023.
