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, RedditвЂ™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 TechCrunchвЂ™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.