Reddit, basking in stock market frenzy, now valued at $6bn
In a funding deal led by Vy Capital, the newly famous social media website plans to expand internationally
09 February 2021 - 16:43
San Francisco — Reddit has said it has raised $250m from private investors, riding a wave of attention after users of the social media website drove a stock market frenzy.
Terms of the funding, led by Vy Capital, push the company’s valuation to $6bn, a spokesperson said. Reddit intends to spend the cash to develop its advertising business, expand internationally and add video tools, the company said in a statement. The deal was reported earlier by the Wall Street Journal...
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