On line news that is dating Reddit is increasing a giant round near a $3 billion valuation

On line news that is dating Reddit is increasing a giant round near a $3 billion valuation

Reddit is increasing $150 million to $300 million to help keep the page that is front of internet operating, 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. Based on just how much cash that is follow-on drums up from Silicon Valley investors and past, its post-money valuation could reach an epic $3 billion.

Reddit is growing its link-sharing forums

Certainly, 330 million month-to-month users that are active 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, Reddit’s bulk stake had been nevertheless held by publisher Conde Nast, which purchased in straight right back 2006 only an after the site launched year. Reddit had raised $250 million formerly, therefore the round that is new push it to $400 million to $550 million as a whole money.

Reddit now confirms TechCrunch’s report, telling us it certainly raised $150 million from Tencent and $150 million from past investors for an overall total of $300 million at a $3 billion post-money valuation.

It will are clear that Reddit had been regarding the prowl after having an of pitching its growth to the press and beating its own drum month. Continue reading “On line news that is dating Reddit is increasing a giant round near a $3 billion valuation”