Conde Nast has bought online news aggregator Reddit.com for an undisclosed sum. The deal comes three months after Conde Nast acquired Wired News. Terms of the acquisition were not disclosed.
Reddit was founded in 2005 by college roommates Steve Huffman and Alexis Ohanian. The service aggregates news stories submitted by users and filters those submissions based on user votes.
Reddit, which now has four full-time employees, will move from Boston to Wired Digital’s headquarters in San Francisco. It will operate under the Wired Digital umbrella along with Wired News, the daily technology news publication.
Reddit being one of the most popular social front pages will inject a healthy dose of Web 2.0 into the CondéNet universe.
via Wired News
Technorati Tags: reddit, acquisition, wired, social network
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