Reddit Valued At $3 Billion After Raising $300 Million In Latest Funding Round

How is it worth $3 Billion? Is this some sort of embellishment to artificially drive the company's worth? Then I read the last paragraph. Yet, taking into account tech company history, including those based in the Silicon Valley, it's prudent to exercise caution and not let oneself be swept away by the hype.

Around the world (Reuters Top News) — Reddit valued at $3 billion after raising $300 million in latest funding round reut.rs/2Du6bWL.

Social media network Reddit Inc said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings Ltd, giving it a market valuation of $3 billion.

Social media network Reddit Inc said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings Ltd, giving it a market valuation of $3 billion.

The series D funding round saw a $150 million investment from Tencent and the company’s former investors, including Sequoia, Fidelity, Tacit and Snoop Dogg.

The investment from a China-based company, news of which started making the rounds around five days ago, quickly ignited censorship fears on Reddit, which calls itself the “front page of the internet.” Reddit is banned in China under the country's censorship laws.

Reddit has more than 330 million average monthly active users, with 14 billion screenviews per month, as of Nov. 12, 2017, it said on its website.

Source: Reuters, full story

 

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