Last summer, Reddit was doing more than 400
million page views a month, but has since shot up to 1 billion. The theory, according to Kafka, is that "Taking Reddit outside of Condé Nast's corporate structure would make the site that much
more valuable, and would give it a better chance to compete for capital, managers and employees alongside zippy start-ups like Quora, StackExchange, etc."
What's more, "The employee issue is particularly acute for Reddit right now, as most of its original team has left the company and the site is now operating with a bare-bones staff." Sources close to Condé Nast's tell Kafta that the spinoff was being considered before the most recent round of departures.