Jump to content

Reddit valued at $3B after raising $300M in latest funding round


The AchieVer

Recommended Posts

Reddit valued at $3B after raising $300M in latest funding round

The funding round saw a $150 million investment from Tencent and the company's former investors, including Sequoia, Fidelity, Tacit and Snoop 
 
             Reddit mascots are displayed at the company's headquarters in San Francisco, California April 15, 2014.REUTERS/Robert Galbraith
 
Reddit mascots are displayed at the company's headquarters in San Francisco, California April 15, 2014.REUTERS/Robert Galbraith Social media network Reddit said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings, 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.

Barring the latest funding, San Francisco, California-based Reddit has raised more than $250 million in three other funding rounds. Its last funding was on Aug. 1, at a valuation of around $1.8 billion. The company has over 20 investors, including Advance Publications, which owns Conde Nast, Reddit's one-time parent company.

The company recently faced a user data breach where a hacker broke into its systems and accessed data, including current email addresses and a 2007 database backup containing old encrypted passwords. However, Reddit largely shrugged it off, saying the attacker gained read-only access to some systems that contained the backup data.

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.
 
 

image.gif

image.gif

image.gif

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...