Condé Nast Buys Reddit

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RedditNews broke this morning that Condé Nast, the parent company of Wired and others, has acquired Boston-based social news site Reddit for an undisclosed sum.

Reddit, which was born out of Paul Graham’s YCombinator challenge back in May last year, will be relocating to Conde Nast’s San Francisco office. The site will remain untouched, but Conde Nast plans to integrate it to several of its properties, most notably Wired and style.com.

Out of the several social news websites (most of them being digg clones), Reddit seems to be the first that has made it through. While not as big as digg, it possesses a similar userbase of loyal fans and supporters. In essence, it’s a much scaled down version of digg.

With this acquisition, I’d hope for a new (if not updated) interface, and perhaps some categories in the future. For now, I’m waiting to see how this integration affects them.

[tags]Reddit, Social Bookmarking, Acquisitions[/tags]


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