Reddit raised funds in 2014 at a valuation of $500 million. https://en.wikipedia.org/wiki/Reddit

Steemit is valued at >$300 million despite having <1/200th the market share of Reddit.

https://steemit.com/steemit/@skapaneas/steemit-analytics-comparing-david-and-goliaths
 
Reddit will generate $30 million revenue in 2016 but will likely still be in the red after expenses.

Steem will generate no revenue in 2016 and have MUCH higher expenses than Reddit because it's paying users for content.

 Over-valued...