4 ms·
Reddit is now worth at least ten times as much as when it was acquired.
by drx 15y ago
Reddit is now worth at least ten times as much as when it was acquired.
- freehunter 15y agoTrue, but this wasn't the doing of Conde Nast, nor did Conde Nast see this 10x increase when they pushed reddit out on its own. Reddit's growth was organic. Last I heard, CN still owns reddit even though the site now operates independently, so CN still has the chance to recoup their investment, but this will take a more profitable business model without sacrificing user trust. Valuations on sheer page hits or user counts are faulty with a capital F U if you can't figure out how to make money from them.
- mburns 15y agoIt doesn't matter if it was Conde Nast's doing. They made an investment in a new media property, and it has seemingly gone splendidly with little to no 'fallout' from having a corporate overlord owning a community site.