With the much introduction of social media sites like Facebook and Myspace, and user-generated news sites like Reddit and Digg, venture capital became a little harder to get.
Reddit is a site where users submit and vote on articles, videos, and pictures received $12,000 in startup capital. As the site became really popular with 60,000 to 70,000 unique visitors per day they took round of funding, which brought the total amount of venture captial received to under $100,000. After they reached the level of 85k unique visitors per day, Conde Nast …

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