TVNewser Show TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Reddit Might Be Worth $240 Million

Reddit, a site so schizophrenic it can host a chat by President Barack Obama alongside links to cat videos and porn, attracts about 3 billion page views a month. For site that is little more than a collection of message boards, it’s insanely popular. So naturally, people want to know what the site — which is owned by Advance Publications— is worth.

According to Forbes, the number is $240 million:

Advance has recapitalized Reddit, taking the site out of its Conde Nast division and allowing Reddit employees to own a sizable minority of newly issued stock. As part of that recapitalization, Advance bought $20 million of convertible preferred stock in Reddit and put in provisions saying that if Reddit is ever sold for less than $240 million, the conversion terms will be rejiggered so that Advance comes away with a bigger slice of Reddit and employees get less.

Given that Advance bought Reddit for about $5 million in 2006, the company is staring at quite a big payoff should it ever decide to sell.

Sponsored Post

Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.