Reddit is increasing $150 million to $300 million to help keep the page that is front of 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. Based on simply 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 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 right straight back 2006 merely an after the site launched year. Reddit had raised $250 million formerly, therefore the brand new round will push it to $400 million to $550 million as a whole financing.
Reddit now confirms TechCrunchвЂ™s report, telling us 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.