Photo: Wikimedia Commons
Facebook has cruised to a $50 billion valuation and near IPO on little more than its spectacular user growth–the company is rumoured to have revenue of $2 billion a year, but has never disclosed any financial information. So why shouldn’t smaller Internet companies get in on the self-promotional act as well?Today, social content-sharing site Reddit posted a year-to-year comparison showing that its pageviews nearly tripled from last January, going from 250 million to 829 million. Time per visit increased slightly from under 13 minutes to just over 15 minutes, and the site also improved its search function during the year.
Reddit has benefited from the fall of social bookmarking site Digg, which went through major layoffs and three CEOs during 2010. The company, which was bought by Conde Nast in 2006, is extremely lean, with only 10 employees and 4 engineers.