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Funding led by new investors Prosus Ventures, Dragoneer and Wellington Management, with participation from existing investors Vy Capital, Tiger Global a. ....
Reddit intends to spend the cash to develop its advertising business, expand internationally and add video tools, the company said in a statement. ....
Reddit, Wall Street s New Bête Noire, Now Valued at $6 Billion After Fresh Funding Todd Spangler, provided by FacebookTwitterEmail Reddit, the self-proclaimed “front page of the internet,” has banked $250 million in new growth funding giving the online discussion site a $6 billion valuation. The company announced the funding round late Monday. The funding, led by VC firm Vy Capital with participation from existing investors, doubled its previous valuation, per the Wall Street Journal. In 2019, Reddit raised $300 million in funding, valuing the company at around $3 billion, from investors including Tencent, Sequoia Capital, Fidelity and Andreessen Horowitz. More from Variety Reddit, which says its site attracts more than 50 million daily users, has been in the headlines the last several weeks after users on one of its discussions forums, r/WallStreetBets, caused stock-market chaos when they promoted stocks targeted by short sellers. In the wake of th ....