Social news platform Reddit is now valued at $10 billion in its latest funding round. Here are thoughts from the current company’s management and founder Alexis Ohanian.
What Happened: Reddit announced a new round of funding valuing the company at $10 billion.
“As we shared earlier this year when Reddit raised its Series E round of funding, we are making strategic investments to grow Reddit and our business, including expanding internationally, innovating new ways to foster community and bolstering our advertising offerings and capabilities,” the company said in a blog post.
The company hired its first chief financial officer and expanded to the UK, Canada and Australia. Reddit said more countries are coming.
“This year Reddit marked its first $100 million advertising revenue quarter (Q2 2021), representing a 192% increase compared to the same period last year," the company …
Full story available on Benzinga.com