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Tuesday, October 31, 2006

Wired Bookmarks Reddit

And so the Web 2.0 acquisitions continue. Wired Digital today purchased news aggregation site Reddit for an undisclosed amount of cash.

Services like Reddit and Digg are useful in and of themselves, but like social networking, their technology for ranking articles can be applied to any content site, and that is what new owner Conde Nast aims to do (in addition to keeping Reddit as its own destination). You can expect that many of the top media sites will incorporate social networking and bookmarking features.

The obvious question to ask is if Conde Nast will allow Reddit's rankings to remain neutral and not benefit the company's properties. I think they are smart enough to not mess with user perceptions. Also, while Reddit is still much the underdog, the site now has a better shot at competing with Digg.

It's good to see Wired getting some resources so that it can be an important player in Web 2.0 just as it was during the first online wave. After years of being kicked around from Lycos to Terra Networks to Daum (owners who continually took away resources despite a great brand), Conde Nast appears to be giving Wired online a chance to grow.

(Disclosure -- I was an editor at Wired News for several years and continue to write and blogfor them as well.)

By Jason Dowdell at 04:58 PM | Comments (0)

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