Reddit is increasing $150 million to $300 million to help keep the first page of this internet operating, numerous sources tell TechCrunch. The series that is forthcoming round is said become led by Chinese tech giant Tencent at a $2.7 billion pre-money valuation. According to just how much follow-on money Reddit 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 July 2017. At the time of then, RedditвЂ™s bulk stake ended up being nevertheless held by publisher Conde Nast, which purchased in straight back 2006 just a 12 months following the site launched. Reddit had raised $250 million formerly, so that the new round will push it to $400 million to $550 million as a whole money.
Reddit now confirms TechCrunchвЂ™s report, telling us so it certainly raised $150 million from Tencent and $150 million from previous investors for an overall total of $300 million at a $3 billion post-money valuation. Continue reading