Reddit is increasing $150 million to $300 million to help keep the front page of this internet operating, numerous sources tell TechCrunch. The forthcoming Series D round is said become led by Chinese tech giant Tencent at a $2.7 billion pre-money valuation. Based on just how much cash that is follow-on drums up from Silicon Valley investors and beyond, its post-money valuation could achieve an epic $3 billion.
Reddit continues to grow its link-sharing forums
Certainly, 330 million month-to-month active users now frequent its 150,000 Subreddits. That warrants the boost to its valuation, which formerly reached $1.8 billion whenever it raised $200 million in July 2017. At the time of then, RedditвЂ™s bulk stake ended up being nevertheless held by publisher Conde Nast, which purchased in right back 2006 merely an after the site launched year. Reddit had raised $250 million formerly, and so the round that is new push it to $400 million to $550 million as a whole money.
Reddit now confirms TechCrunchвЂ™s report, telling us so it indeed raised $150 million from Tencent and $150 million from past investors for a complete of $300 million at a $3 billion post-money valuation. Read more