Reddit was just acquired. Some people made a lot of money. Yeah, I’m bummed, I haven’t made a lot of money yet. But what bugs me more about this is that I hadn’t even heard of Reddit before. Sure, I have no idea what’s going in North Korea, the elections and George Bush’s most recent faux pas but that’s because I supposedly keep up with tech and real estate. But how did I miss this site? Maybe it’s because I’ve stopped reading Digg (I’m so fucking tired of Ubuntu and Wii links) or is my finger on the wrong pulse?
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I found it through Joel on Software, which is also a good blog. You’ve heard of Joel, right!? :)
:) I don’t remember him mentioning it….
his first mention of it was in December of last year. http://www.joelonsoftware.com/items/2005/12/14d.html
I saw it, and have been reading it since, but it was through reddit that I heard about digg.
I’ve been reading it for about 6 months. It’s different than digg. Less tech stuff. I like it alot. I first found out about it when one of my blog posts made it on their front page and I saw it in my referral url logs.
I doubt a company like RedFin would get acquired. The exit strategy for these new-age real estate companies must be IPO (which still means an ass load of money for you with your early stage stock options). Technology companies like Google/Yahoo probably arn’t interested in entering the real estate market, and traditional real estate companies probably more see you as competition as opposed to a potential partner.
That said, I believe RedFin has more potential then Zillow to reach IPO. Zllow has higher traffic, but it’s based on public records using an industry standard valuation algorithm. Building the basic systems and proceses to do this doesn’t require much barrier to entry.
On the other hand, Red Fin offers a genuine real estate service, and if their service becomes trusted AND offers great deals in real estate? Skys the limit even with reduced commission :)
My 2 cents.
Chris, totally agree. I can’t think of a single company for whom it would be reasonable to acquire Redfin.