Reddit is rumored to be raising money from investors at a valuation of $400 million, double its estimated value a year ago.
In 2012, the site logged 400 million unique viewers and 47 billion pageviews, a huge increase from 2011. High-wattage “Ask Me Anything” posts with President Obama and the Mars Curiosity Rover team helped the social site go more mainstream, and the popularity explosion may be leading it to seek new revenue to expand staff and servers.
Installed last March, new CEO Yishan Wong has sought to give Reddit more control of its finances. The company is owned by Condé Nast.
Any mention of outside capital flowing to Reddit is sure to be controversial. Unlike many other social Web giants, the Reddit community prizes anonymity, and more intrusive advertising efforts are almost certain to be rebuffed.
TODAY IN SLATE
More Than Scottish Pride
What Charles Barkley Gets Wrong About Corporal Punishment and Black Culture
Why Greenland’s “Dark Snow” Should Worry You
Three Talented Actresses in Three Terrible New Shows
Why Do Some People See the Virgin Mary in Grilled Cheese?
The science that explains the human need to find meaning in coincidences.
Happy Constitution Day!
Too bad it’s almost certainly unconstitutional.