On October 31, TechCrunch reported that Conde Nast, the owners of Wired Magazine, had acquired Reddit.com. The price was not disclosed but Michael Arrington revealed that the owners of Reddit will be moving from their Boston location to San Francisco. Reddit has four employees.
TechCrunch reported ?Reddit is a social news site that has always played second fiddle to Digg.? After reading this, I noticed an article posted in ValleyWag about how the Reddit founders must have felt when compared to Digg. The following quote from the founders of Reddit was placed on ValleyWag: ?As far as I know, this was the first time we graced the pages of TechCrunch, so we?re just happy for the coverage. In fact, I think Michael made some very good points about reddit?s fast load time and high content-to-ad ratio. I do wish he?d mentioned our mascot, but oh well.?
It seems that ValleyWag wanted to get a response from the Reddit founders about not wanting to be compared to Digg. I think this is a good question from ValleyWag because sometimes when you see one of the first press releases of your acquisition, you should expect that the details of it should be focused more on the actual acquisition and not other potential acquisitions. Yes, we know everyone loves Digg, but there is definetely a time and place to highlight Digg?s success.
However the interview TechCrunch put together just two hours after the acquisition is impressive. Steve Huffman and Alexis Ohanian, the founders of Reddit were interviewed by Michael Arrington and Marshall Kirkpatrick on TalkCrunch. I sat myself down and listened to it for 24 minutes. Here is a rundown of several of the interview points:
Between ValleyWag, TechCrunch, and GigaOM, there is certainly a good amount of coverage on the Reddit acquisition. Congratulations to Steve on getting health insurance too.