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Reddit in money trouble

David Correll on July 12, 2010 | Reddit | Comments (0)

Social Bookmarking service Reddit has recently had a bit of a slump in earnings and they are looking for people to help.

In a blog post titled ‘Reddit needs help’, the company has explained they have 4 engineers that are really stretched to just keep the site working properly – with outages and slow performance coming too often.

This means the Reddit team do not get to released new products like they want.

Reddit is owned by Conde Nast, a billion-dollar corporation – but they are not willing to fund Reddit over what’s proportionate.

The Reddit team want to hire more developers and engineers but they just don’t have the money so they are asking for donations – goto http://www.reddit.com/help/gold for details.

Reddit is getting over 280 million page views per month so the potential is definitely there.

I believe Conde Nast should invest in Reddit now, build the infrastructure they need then that will put Reddit in a more powerful and sustainable position moving forward.

As a user of Reddit myself, I don’t want to send a donation to a company who is owned by a billion dollar corporation – they should be able to get an inter-company loan or equivalent for some short term upgrades.