Reddit gets to Digg-ify Conde Nast

More acquisition news: Reddit, the Digg-style social bookmarking or social-news site, has been acquired by Conde Nast, the magazine publisher behind Wired, The New Yorker, Vogue, GQ and a bunch of other magazines. The announcement from the Reddit team — which includes just four people — is here. No word so far on whether the rumoured price of $65-million has any relationship to reality (I would be suprised if it was anything close to that).

Reddit is to become part of Wired media, and its voting-style service is expected to be incorporated into or Digg-ify some of Conde Nast’s other sites. As more than one observer has commented, it seems likely that the magazine empire got to know the guys at Reddit — including Alexis Ohanian, who I did a short email interview with last year — when they put together, a celebrity news site. They also did a similar kind of private label thing for Slate.


Maybe it’s just because I work for an old-fashioned media entity, but I happen to think that the kind of thing Digg and Reddit and are doing makes a lot of sense as part of a media property of some kind. The interesting thing to watch will be whether the magazine sites that Conde Nast tries to Digg-ify will be restricted to content from those magazines, or whether they will open them up.

In any case, congrats to Alexis and his team (who got their start working in someone’s apartment as part of Paul Graham’s Y Combinator, a kind of summer camp for startups). I hope the deal works out for them. Matt Sparkes has an email interview with Alexis here.

14 thoughts on “Reddit gets to Digg-ify Conde Nast

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  3. I hope not, Ed. If it is, then I would expect more of my posts to involve Star Wars and/or the Sports lllustrated Swimsuit edition 🙂

  4. Nice — although I do remember reading something from somewhere about the problem with popularity-inspired journalism. Most stories ended up being about sex scandals, explosions, or gratuitous sexy explosions.

    Not that much different than today’s news … but, more so, I suppose 😉

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  6. I agree that it’s a very interesting acquisition, Mathew. I’m fascinated to see how much potential there is/will be for social news verticals, or players to fill in space that digg isn’t covering (perhaps that’s a better way to phrase it!).

    Reddit does what it does very well: very simple, clean, and a good mix of stories (tech, non-tech, political, odd ball). I hope they continue to do well.

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