New York – Magazine publisher Conde Nast is considering a
spin-off of Reddit, the social news aggregation service it acquired five years
ago, All Things D reported.
Sources told All Things D the company is floating a
$200 million valuation for Reddit, and a spin-off transaction that would see a
stake sold to investors while Conde Nast would continue to own and operate the
company.
Founded in 2005, Reddit counts more than 1 billion monthly page views
for its site, which aggregates news stories from various sources.
Related Links:
http://tinyurl.com/4poqnas
(All Things)
