Reddit is raising $150 million to $300 million to help keep the first page of this internet running, 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. According to exactly how much cash that is follow-on drums up from Silicon Valley investors and past, its post-money valuation could achieve an epic $3 billion.
Reddit is growing 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 2017 july. At the time of then, Reddit’s bulk stake had been still held by publisher Conde Nast, which purchased in right back 2006 only an after the site launched year. Reddit had raised $250 million formerly, so that the round that is new push it to $400 million to $550 million as a whole financing.
Reddit now confirms TechCrunch’s report, telling us http://www.rubridesclub.com/ukrainian-brides/ so it certainly raised $150 million from Tencent and $150 million from past investors for a complete of $300 million at a $3 billion post-money valuation.