Wednesday, November 01, 2006

Reddit.com Acquired by Condé Nast/Wired

Pretty neat site called Reddit.com -- very similar to Digg.com -- having Alexa ranking below 1000 has just been acquired by Condé Nast / Wired for undisclosed price… What we know is that Condé Nast / Wired operates a site named Lipstick which is much or less a clone of Reddit.com but way below the popularity of Reddit. One can see that their attempt to duplicate the original site did not work things out and they decided to buy the original.

We’d be interested to find out more about the price and its components such as stocks / cash ratio, if any. Rumors spreading around the web mention amounts in the range of $65M, is it too high or normal price for site Alexa below 1000? Okay, reporting the fact that Digg.com is being rumored for $150M, and YouTube.com was bought for $1.65B (Alexa 10 by that time) we think Reddit.com’s value/price is normal to be anything around $50M+.

More information plus lots of commentaries on Techcrunch’s site

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