nyconvergence.com
Is Reddit Worth $240 Million?
Advance Publications bought NY-based Reddit for less than $5 million in 2006. Now its estimated value is upwards of $240 million. Bob Sauerberg, president of Advance’s Conde Nast magazine division, said that they basically left the startup alone so they wouldn’t screw it up. Forbes recently reported that Reddit is a thrifty company and needs