Reddit raising huge funds to near US$3 billion Valuation

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Reddit – the online platform that bills itself as the front page of the Internet is raising US$ 150 million to US$ 300 million. The move is to keep the first page of the Internet running, say sources. Reddit’s Series D is being led by Chinese tech giant Tencent. The latter values at US$ 2.7 billion pre-money valuation.

Speculation is after raising funds, Reddit’s post-money valuation to be an epic US$ 3 billion. This, however, depends on how much follow-on-cash the online platform raises from Silicon Valley investors and other parties.

High Volume of Active Users fosters Funding opines Reddit

Meanwhile, Reddit continues to expand its link-sharing forums and thus serves netizens seeking esoteric community and unconventional entertainment. Indeed, Reddit registers 330 million active users every month visiting its 150,000 Subreddits. This volume of active users is favorable to boost its valuation, gaining green signal from the funding of US$ 200 million in 2017. This led Reddit valued at US$ 1.8 billion.

Dating to July 2017, publication company Conde Nast held Reddit’s majority share. The publisher holds stake in the company since 2006 only after a year of launch of the site. Prior to this, Reddit raised US$ 250 million. With the new round of funding, total money raised will amount between US$ 400 million and US$ 550 million.

Irrespective of this, it is gathered Reddit has been beating its own drum after it pitched its growth to the press. In December 2018, Reddit announced reaching 1.4 billion views on videos streamed on the platform. This is a staggering 40 percent up from the first release of a native video player on the platform in August 2017.

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