Reddit in the Black

The tech bubble may be back. Or maybe it's not a bubble at all. Reddit (as in read – it) grew up as part of the Boston post-burst venture capital projects. Conde Nast just bought them. They're one of any number of link sharing sites allowing users to popularize blog entries and websites they find to be interesting and relevant. The back end software learns what you like by the way you vote on existing sites – TiVo for the interweb? Perhaps. Just about a year ago Reddit presented at the first (?) of what is now a monthly series Web Innovators meet-ups in Boston. The still informal series of meetings features self-funded and some venture capital based web sites and emerging technologies that hope to harness the wonders of the interweb.

The bet on the $100,000 in VC Reddit was able to raise was worth it, we assume. The purchase price hasn't been disclosed, but the publishing powerhouse that is responsible for Wired, GQ, Vogue, and the New Yorker among others has likely got some money in their coffers to put up for such an acquisition. The good news on the deal is that there may be money to be made for these ventures; the bad news is that Boston is losing the four person team responsible for Reddit as the operation is moved to San Francisco. The server farm is probably already in California or Texas, but it was nice to know there was some guy in a Somerville apartment who could bring the latest and greatest features live.