BEAMSTART Logo

Reddit is getting more popular; now valued at $6 billion after raising $250 million

Reddit's valuation has doubled since February 2019.


Reddit is getting more popular; now valued at $6 billion after raising $250 million | BEAMSTART News

Reddit, a popular social news aggregation, web content rating, and discussion website, has just raised $250 million in a new funding round.

The funding round brings Reddit's current valuation to $6 billion, double its previous round.

The last time Reddit raised funds was back in February 2019, when Tencent led a $300 million round into the company, valuing it at $3 billion.

Reddit today has more than 50 million daily active users, with advertising revenue climbing 90% in the last quarter compared to the previous year.

“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 announced in a blog post.

ABOUT THE AUTHOR

Kenneth Ho

Founder & Director @ BEAMSTART. Just launched a VC fund to accelerate awesome startups.

ALSO MENTIONED IN THIS POST


Tencent

Tencent is a Chinese internet service portal offering value-added internet, mobile, telecom, and online advertising services.

Industry:

Opportunities:


Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.

BEAMSTART is a Hub for Startup News, Business Networking, and Entrepreneurial Resources. Expand your network, discover new possibilities, and tap into a vast database of resources that can help you go further in your business and career.

 

Download the App

The app for business networking and startup resources. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).