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YEurope, a venture capital firm which specialises in working with early stage European tech startups, officially launched this week.

Despite the similarity of the name and homepage slide show, YEurope is not to be confused with YCombinator, a company which provides the same service in the US. According to the home page, the site is 'inspired by, but not affiliated with YCombinator.'

Social media site Reddit has been bought by Wired publisher Condé Nast for an undisclosed sum, with TechCrunch again breaking the rumour. Reddit has itself just confirmed the news.

Reddit, which enables users to suggest and rank stories, is a user-generated news aggregator, with stories rising to the top based on popularity, rather like competitor Digg.