Jeff Bezos isn't buying WaPo Labs, an incubator established by the Washington Post, which has developed a handful of digital news products such as Trove, Social Reader, and Poll Watch app. It's run by Vijay Ravindran, a former Amazon software engineer.
It also employs Rob "CmdrTaco" Malda, the founder of Slashdot, a popular news site similar to Reddit, Digg, and Hacker News. I liked this interview by Timothy B. Lee at the Washington Post: