Reddit Possibly Worth $240M, Justifying 2006 Purchase By Advance

Unlike other mainstream companies that stumbled when they bought hot digital properies, Conde Nast parent Advance Publications, which  "spent little more than loose change in 2006 to acquire Reddit, one of the Internet’s edgiest news and comment sites...  could be looking at a 30-to-1 jackpot on a fast-growing property that’s arguably worth $240 million or more," writes George Anders.

Read the whole story at Forbes »
Tags: magazines, online
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