Reddit raises $250 million

Reddit has raised $250 Million in a new funding round. This is the series E round of financing for Reddit.

Reddit has become more popular and gained more public attention after the GameStop stock incident. The subreddit r/WallStreetBets played a big role in the rise of the value of GameStop stock.

Reddit has completed 16 years and it has raised around $800 million to date. Reddit has raised $300 million in February 2019 in series D round from Tencent. Reddit has said that this financing is from existing and new investors.

Reddit has posted announcement through a blog post which you can read here. They have also given insights about the future plan as they have said,

We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets.

Reddit Super Bowl Ad

Reddit also ran a 5-second Super Bowl ad consisting of a single static image that looked like a standard post on the network.

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