Reddit went independent from Conde Nast in 2011. Conde Nast is considering selling parts of Reddit to investors at over a $200 million valuation. Conde Nast decided to cancel that idea because Reddit did not need the money. It is rumored that Reddit will be raising a round of funding at a $400 million valuation.
Reddit made former Facebook director of engineering Yishan Wong as the CEO recently. Reddit has a board of directors that includes Reddit co-founder Alexis Ohanian.
The company is revamping their capital structure so that they can manage their own operations and financials. The company hit 37 billion page views and 400 million unique visitors in 2012.