Condé Nast Considering Spinning Off Reddit

Posted Mar 22, 2011

Condé Nast acquired Reddit five years ago and now they are considering spinning them off again. Condé Nast would continue to own the website but they are talking to investors about selling a stake in the company with a $200 million valuation. Reddit saw tremendous growth after Digg released a new, less favorable version of their website. Reddit recently saw one billion page views in one month. ?We love our Reddit asset, and it?s a core asset for us, and it?s getting more valuable every day,? stated Advance Publications digital operations head Steve Newhouse. [AllThingsD]