Conde Nast buys Internet startup reddit.

(From AFX UK (Focus))

NEW YORK (AFX) - Wired Digital, the Web home of Conde Nast Publications's Wired magazine, said Tuesday it has purchased reddit, a Boston-based technology startup, for an undisclosed amount.

Reddit's Web site lets users submit links to news, blog posts and other Web pages. Stories then move up or down reddit's home page based on votes they receive from users.

The startup has also licensed its technology to companies such as Gawker Media, which runs several popular blogs. This spring, Conde Nast had a chance to kick the tires when it launched Lipstick.com, a site devoted to celebrity gossip links.

While most of Conde …