Reddit Worth $50 to $700 Million?

Everyone loves Reddit, I'm not sure how a website with (according to the article) "low revenue and no profit" can be worth $700 million.

Looking at company incorporation papers, Forbes's George Anders estimates that the front page of the Internet, and all its seedy glory, is worth at least $240 million dollars. Where does he get that figure? Well, he looks at what its corporate owner, Advance Publications, the same company that owns The New Yorker, Vogue, and Vanity Fair, think it's worth.

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