Reddit's popularity has surged in recent months, as the social news service now gets more than 3 billion pageviews a month and has 43 million monthly active users. Now, a new report suggests that Reddit's valuation has grown as well.
George Anders at Forbes looked through Reddit's most recent incorporation papers, updated a few months ago in Delaware, and found a provision in the documents from Advance Publications -- the parent company of Conde Nast which owns Reddit -- setting a $240 million sale price for Reddit as a benchmark for determining the allocation of preferred stock.
"Advance bought $20 million of convertible preferred stock in Reddit and put in provisions saying tha…
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