Conde Nast's Reddit asks readers for help

Jul 12, 2010

(AP) -- Though it's owned by deep-pocketed media company Conde Nast, Reddit needs money, and it's turning to its loyal audience for help.

Reddit, which Conde Nast's Wired Digital bought in 2006, lets readers post links to articles, blogs, photos and other . They can then click on arrows to push the links up and down the site's rankings.

Reddit needs to buy more and to hire a developer and a full-time Web designer. It says it won't get that money from Conde Nast because the site doesn't bring in enough ad revenue.

In a blog post, Reddit's Mike Schiraldi writes that the site's four engineers - which include himself - work full time and on many evenings and weekends "just to keep things going."

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