The timing is interesting: Reddit has had a terrific run the past few months, as the industry-leading Digg has been absolutely hammered by both the press and its own users. After struggling in Digg’s shadow for years, Reddit is enjoying its best growth and most positive press coverage in recent memory.
But, as CNET’s Caroline McCarthy points out, that hasn’t helped the relationship between Reddit and its parent company, Conde Nast, which acquired the news aggregator in 2006. Despite its recent success, the service has been hitting up its users for donations to stay afloat.
While Slowe insists that he is leaving “on a high note,” it’s difficult to believe he’d want to jump ship at a time like this if he were happy with Reddit’s ownership. As it is, he’ll be rejoining Reddit cofounder Steve Huffman at Hipmunk, another highly touted Y-Combinator startup. We expect Conde Nast won’t acquire this one.