In 2006, popular social news website Reddit was purchased by publishing giant Condé Nast where it grew into the juggernaut we know and love. Today, Reddit announced that it had declared independence and was being spun off into Reddit Inc.Though Reddit is now separate from Condé Nast, it is still wholly owned by Condé Nast's parent company Advanced Publishing. However, Reddit will now be operated by a board of directors. According to the site's official blog, the board will consist of:
...reddit co-founder Alexis (kn0thing) Ohanian (read his thoughts here) will serve on that board, along with Bob Sauerberg (President) and Joe Simon (Chief Technology Officer) from Condé Nast, and Andrew Siegel (Senior Vice President, Strategy and Corporate Development) from Advance. Other internal or external directors may be added in the future.Reddit Inc. has also begun a search for a CEO to head the company. There is currently no word on what factors will enter into that search, or how much karma candidates are expected to have.