From Bloomberg Businessweek:
Alexis Ohanian, co-founder of Reddit, told a standing-room-only crowd at UC Irvine last Wednesday how a Yahoo executive dismissed the website years ago as "a rounding error." About 16 months later, Ohanian and co-founder Steve Huffman sold Reddit to publishing giant Conde Nast Publications, for a reported $10 million to $20 million. The site is now worth as much as $240 million, according to Forbes.

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