Reddit added $116 million in series E round

Reddit has announced about $250 million funding earlier this month about which you can read here. It was their series E round of funding. Now, they have added another $116 million to this financing event which made the total $367 million.

Reddit is aiming to raise up to $500 million in this capital raise.

A Reddit spokesperson has confirmed this news and said this new capital is from New and Existing investors. They didn't say any particular names of investors.

Reddit was in the spotlight for the past few months most recently, its role in the election and the rise in Gamestop's stock due to subreddit r/WallStreetBets.

Reddit raises $250 million.

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