Condé Nast/Wired Acquires Reddit
written by John Chow
Just saw over at Tech Crunch that Condé Nast, owner of Wired and other magazines/websites, has acquired Boston-based Reddit earlier this morning.
Reddit is the “other Digg site.” It was founded by Steve Huffman and Alexis Ohanian. The site’s main investor, Paul Graham of YCombinator seeded Reddit with $88,000 to get it off the ground. While Reddit is nowhere near as big as Digg, it does have a very loyal following. The site loads very fast and is ad free for now. I would imagine Wired will want to monetize the site once they take over.
Condé Nast will announce the buyout later today. The sale price for Reddit has not been disclosed. So this makes for a little fun game; how much do you think Reddit sold for?
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(1 votes, average: 5 out of 5)
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Hmm, so that’s why some subdomains like nsfw.reddit.com are no more.
Allen.H
My guess: between $25-60 mil.
I heard they held for $150,000,001 because they wanted one dollar more than Digg…
Was reddit that big that it was worth buying? I’ve hung out around digg and slashdot forever, and I’ve barely ever heard anyone talk about reddit.
Reddit is no where near Slashdot or Digg size. They got 70,000 uniques and 700,000 page views per day. Still that’s decent traffic.
Hmmm…$25 million?
Yeah Im definatly gonna point at around 100-500million… based on inflation right now…
but seriously maybe 500k - 1.5mill… i bet there is a lot of potential in that site
Let’s see. Digg gets 700,000 uniques per day. Reddit gets 70,000. Digg wants min $150 million to sell. Using that as a base, Reddit will want $15 million. However, I think they sold for less.
I’m guessing $22 million
I’m guessing $10 million.
Social web2.0 = $$$ right now, but their reach isn’t on the scale of the biggest players obviously.
With the number of recent big name moves - I am guessing at least $80 Million