CondeNet buys Reddit

RedditCondeNet
In another deal for the day, CondeNet has acquired Reddit. As usual, the financial details about the deals have not been disclosed. For rumors you can checkout Reddit itself.

Reddit has played the role of second option for Digg baiters. Reddit was started Steve Huffman, Alexis Ohanian, Chris Slowe, and Aaron Swartz as part of the Y Combinator incubator. Y Combinator provides seed funding to startups, which is usually not more than $20000. I think this is deal has provided a good return to Reddit founders as well as Y Combinator.

Now cameras are back to Digg to provide further action.

Links:
Reddit
Y Combinator

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