The reddit blog outlines why they rewrote reddit in Python, from the original Common Lisp.
If Lisp is so great, why did we stop using it? One of the biggest issues was the lack of widely used and tested libraries. Sure, there is a CL library for basically any task, but there is rarely more than one, and often the libraries are not widely used or well documented. Since we're building a site largely by standing on the shoulders of others, this made things a little tougher. There just aren't as many shoulders on which to stand.