Reddit doesn’t have a cash problem. They had $20 million in the bank when they were given partial independence by Conde Nast two years ago and unless they’re buying solid gold servers and platinum-plated Macs to run the site, they probably have enough to keep going without a hitch for another decade. When Techcrunch reported rumors that the social news giant was looking for investors against a $400 million valuation, many of us wandered why they would risk losing their status as one of the most community-driven websites on the planet by playing into the hands of profit-driven venture capitalists.
