{"id":25723,"date":"2021-08-13T11:40:42","date_gmt":"2021-08-13T11:40:42","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/reddit-is-raising-up-to-700m-in-series-f-funding.html"},"modified":"2021-08-13T11:40:42","modified_gmt":"2021-08-13T11:40:42","slug":"reddit-is-raising-up-to-700m-in-series-f-funding","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/reddit-is-raising-up-to-700m-in-series-f-funding.html","title":{"rendered":"Reddit is raising up to $700M in Series F funding"},"content":{"rendered":"

Earlier this year, Reddit raised $250 million<\/a>, bringing the 16-year-old site up to around $800 million in total funding. Today, it announced plans for an even more massive windfall<\/a>, with a Series F led by Fidelity. The company confirmed with TechCrunch that it has raised $410 million thus far, with plans to raise up to $700 million, putting Reddit at a $10 billion valuation.<\/p>\n

The company says funding will go toward building out community and advertising efforts and increasing headcount.<\/p>\n

\u201cThese efforts require us to grow our teams and make smart bets on how to make Reddit better, faster, easier to use, and more empowering for communities,\u201d Reddit writes. \u201cWe are also evolving as a business, maturing, and building the operational structures that will help propel us into the future with transparency, values and integrity.\u201d<\/p>\n

As we noted back in February, an extraordinarily strange couple of years found the content aggregation service playing a key role in rollercoaster stock figures for companies like GameStop and AMC, by way of the r\/WallStreetBets subreddit. It also kicked off 2021 with a short Super Bowl spot. All of that helped lead to a doubling of the company\u2019s valuation to $6 billion.<\/p>\n

For now, it seems, the hype train is continuing. In Q2, Reddit broke $100 million in advertising revenue for the first time, marking a 192% year-over-year increase for the quarter. The site now attracts 50 million daily visitors and hosts 100,000 active subreddits. In March, it announced Drew Vollero would be joining as the site\u2019s first-ever CFO, after assisting with Snap\u2019s IPO efforts four years prior.<\/p>\n

In an interview with The New York Times<\/a>, co-founder Steve Huffman notes that it hadn\u2019t planned to raise another round so quickly, but ultimately couldn\u2019t turn down what Fidelity was offering. He adds that the funding will also factor into Reddit\u2019s eventual IPO plans.<\/p>\n

\u201cWe are still planning on going public, but we don\u2019t have a firm timeline there yet,\u201d he told the paper. \u201cAll good companies should go public when they can.\u201d<\/p>\n

\n

Reddit raises $250 million in Series E funding<\/a><\/p>\n<\/blockquote>\n

\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/2arOHzDSmjw\/<\/p>","protected":false},"excerpt":{"rendered":"

Earlier this year, Reddit raised $250 million, bringing the 16-year-old site up to around $800 million in total funding. Today, it announced plans for an even more massive windfall, with <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-25723","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t