Reddit's Organizational Shift

Reddit announces that it would be moving around the organizational ladder and taking on the identity of reddit, Inc. The fast growing social media community previously acquired by Conde Nast, is now owned by Advanced Publications, which to me, doesn't really make that much sense because Advanced Publications also owns Conde Nast. Go figure.

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As confusing as it may sound, the group iterated that this would mean more "operational freedom" for them.

Reddit is also looking for a new CEO. Requirements: Post a picture of yourself hold a shoe on top of your head while giving a Powerpoint presentation.

I'm a new member of Reddit and I've seen that it's really on its way up both in terms of traffic and in terms of membership. They're now claiming to have 700,000 page views every 15 minutes.

Recent Controversies
Like any other Internet company which is based on a community, reddit has had its own fair share of controversy. One of this is the allegation of fraud that is transpiring in one of their subreddits (groups). Though not entirely representative of the community as a whole, such instances taint the community's otherwise healthy interaction.

UPDATES: From the rumor mill
Apparently, talks of dissent over Conde Nast's management has been brewing for quite some time.