Wednesday, November 01, 2006

Reddit has been acquired

Reddit, the online news aggregator and social bookmarking site, has been acquired by Conde Nast publications, the owner of " Wired Digital" magazine.

The sum is undisclosed but various rumours estimate it to be around the 65 million $ mark. Reddit's 4 founders cum employees will relocate to San Francisco, Wired's headquarters- Steve Huffman, Alexis Ohanian, Aaron Swartz and Chris Slowe.

Another acquisition after G bought Youtube not too long ago.

Looks like the acquisitions are flying thick and fast

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