Reddit has switched its way and now it has become reddit Inc. Reddit is a division of Condé Nast. The blog post of reddit which announced its upgradation noted that the change was brought about to let reddit handle its opportunities and growth in the future. This point can be understood as in October 2006, when Condé Nast acquired reddit, on a daily basis the page view count which were received were around 700k. This count of traffic now, gets fulfilled in 15 minutes on a routinely basis.
As the traffic count has gone up by a highly notable step,it is expected that there could be more of technical, cultural, and organizational problems coming up. With the available resources now, reddit can improve and support the experience of the community for the times to come.
Talking about who would be reported, the blog post stated that Advance Publications is the main owner of reddit as the former even owns Condé Nast, but the reporting would be to a board which would still give it that operational freedom as compared to the freedom they had when they were just a division of Condé Nast. This gives a better opportunity to the reddit team to perform as there has been an organizational shift, but reddit is not really going anywhere.
The board would have reddit co-founder Alexis (kn0thing) Ohanian (read his thoughts here) who will see Bob Sauerberg (President) and Joe Simon (Chief Technology Officer) from Condé Nast, and Andrew Siegel (Senior Vice President, Strategy and Corporate Development) from Advance along with him. There is a provision kept which lets them to add external or internal directors in the future.
Reddit Inc. has had a new structure now and so the team has even started hunting for a CEO who can help them in reaching their full, unbridled potential. But for the position, the requirement they have posted is that an individual should understand the community and should be passionate about serving its needs.
Reddit now even has a latitude which will make it easy to address any global issue. Moreover the team of reddit along with their Board, their informal advisors and others in the reddit community do believe that reddit Inc. has the potential to impact positively journalism, civic engagement, fund-raising, product development, and learning. To achieve this, they would however have to come up with solutions to many pragmatic issues en route which would require a lot of time and energy to be dedicated to their community and reddit is confident that they would be able to fulfill the requirement and would make it really big in the future to come.
The blog post even noted that the team loves reddit and a major change to anything one loves, could be scary, but they are viewing this as an opportunity to see it positively as a sound and exciting change. The confidence can be noted as it was blogged that ‘reddit is on solid footing to help explore the unknown world in front of us.’ The blog post was concluded as asking the readers to shoot questions they want to get a clarification for.