Wired News is reporting that Wired Digital has acquired social bookmarking site Reddit. Details weren’t disclosed, but you can bet it isn’t as much as YouTube. Or anywhere near that.
First, Reddit has no revenue model. Second, while it does have over one million users, it just doesn’t command the traffic that sites like Digg and Del.icio.us do.
I’m not even really sure what range to put a guess in. I’d like to say something around $20 million, but I don’t know enough about it to say that confidently.
Wired plans on integrating the Reddit functions into all of the CondeNet sites. That could be enough to help rocket Reddit into more of a mainstream light. They already are one of my favorites and I use them just as often as I use Digg and more often than I use Del.icio.us.
Overall, it’s a good pickup for Wired and I think we can safely say that Wired most likely won’t destroy the site.