Condé Nast announced the acquisition of Reddit, a social news site, this morning for an undisclosed price. Reddit was founded in 2005 and has just four employees. This is a model company for young entrepreneurs looking to create a new startup with limited resources.
Marshall Kirkpatrick and I interviewed founders Steve Huffman and Alexis Ohanian today just hours after the acquisition was announced. While we couldn’t get them to disclose the acquisition price, they did talk about traffic and fundraising – Reddit is currently attracting around 70,000 unique visitors per day and 700,000 page views, and the company has raised just $100,000 in seed funding, all in the summer of 2005.
Time: 24:36 Minutes
Size: 5.63MB
One of the best ones..;-)
Quite some gift for Steve for his upcoming birthday.
They estimate about
80,000 to 96,000 unique visitors daily and
750,000 Pageviews
It is interesting that none of them were certain about the stats – they don’t seem to really be that concern – possibly because they are not focussed on Advertising
This was a decent podcast – I’d like to hear more about the details of the transaction though.
Supprising that they don’t have an exact count. Especially with the newer services. Still, gotta love that.