Tech speaking Advance Publications “own” reddit as it’s largest share holder. Advance Publications Also own Conde Nast.
Conde Nast used to own reddit. But a few years (2014) ago it split off as it’s own entity but giving Advance Publications the majority shareholder state and had a funding round at the same time. It’s had a couple more funding round since with its most recent being $300M in feb.
Not sure about the financial state of Advance Publications though.
In effect, Condé Nast does still own Reddit. Advance Publications is the holding company which owns the Conde Nast properties (Conde Nast, Conde Nast International, Conde Nast Entertainment, and Reddit).
When Condé Nast originally bought reddit, there was an outcry about how Condé Nast was going to ruin reddit. People thought Condé Nast was just going to pump their magazine content (GQ, Vogue, New Yorker, Wired, many more...) on reddit.
In order to prove this wasn't going to happen, Conde Nast reincorporated Reddit as its own company and moved it under its parent holding company (Advance Publications).
Advance Publications is to Conde Nast what Alphabet is to Google.
Also one thing to note is that Reddit has employees within Conde Nast's head quarters. Its not like they are trying to hide their ownership. They just changed the structure of the ownership to prove Reddit still controls Reddit.
Conde Nast is not part of the ownership structure of reddit. Conde Nast is owned by the major owner of reddit, Advance Publications, but reddit has not been part of Conde Nast for years. The ownership also got more diffuse last year:
Reddit, Inc., will be owned by Advance Publications, which also owns Condé Nast, so it will be a corporate sibling of CN and more independent of it. Advance Publications owns other divisions in addition to CN, including a newspaper division that presumably does not is not influenced very much by the magazine folks:
Just to follow up on this - Conde Nast's parent company, Advance Publications, still owns a majority stake in Reddit (https://en.wikipedia.org/wiki/Advance_Publications). Apparently they also own the Discovery Channel and Lycos.
Condé Nast no longer own reddit, Advance Publications (Condé Nast's parent company) do. I believe reddit's admins have commented somewhere saying this allowed them to hire more people and rent more servers as they weren't being pressured into avoiding costs anymore, but I can't find a source for that at the moment.
>It will be difficult for Condé Nast to get its money's worth out of Reddit now.
Condé Nast hasn't owned Reddit for half a decade now. Advance Publications owns both of them, and Reddit was split off as a separate entity with its own board and shareholders, one of which is Advance.
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