Wired Digital buys Reddit
Conde Nast's Wired Digital has bought online news aggregator Reddit.com for an undisclosed sum, the publisher said Tuesday.
Wired Digital, based in San Francisco, will add Reddit to its stable of online properties, which include Wired Magazine and Wired News. Reddit's four founders--Steve Huffman, Alexis Ohanian, Aaron Swartz and Chris Slowe--will relocate from Boston to Wired Digital's San Francisco headquarters.
"Our goal will be to build Reddit as an independent company by collaborating with Wired through the integration of its core technology, and by offering partnerships to allow other companies to do the same," Kourosh Karimkhany, general manager of Wired Digital, said in a statement.
The deal comes nearly three months after Conde Nast acquired Wired News, thus reuniting the print and online brands.
Conde Nast also had a sneak preview of Reddit technology before Tuesday's acquisition. The publisher used Reddit to launch Lipstick.com, a news filtering site for celebrity gossip.