Home » Reddit Aims to Raise $300 Million in Series D Round

Reddit Aims to Raise $300 Million in Series D Round

Reddit is preparing to raise $150 million to $300 million in the upcoming Series D round that is said to be led by Chinese tech giant Tencent. It is expected that a post-money valuation of Reddit will reach $ 3 billion.
news - Reddit Aims to Raise $300 Million in Series D Round

Reddit is preparing to raise $150 million to $300 million in the upcoming Series D round that is said to be led by Chinese tech giant Tencent. It is expected that a post-money valuation of Reddit will reach $ 3 billion. 

At the end of the last round in July 2017, Reddit raised $ 200 million, and the company’s valuation was 1.8 billion. At that time, it was the largest investment round of Reddit. 

The exact details of the Series D could fluctuate before it’s formally announced, and Reddit and Tencent declined to comment. But supporting and moderating all that content isn’t cheap. The company had 350 employees just under a year ago, and is headquartered in pricey San Francisco. 

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Reddit was founded by Steve Huffman and Alexis Ohanian in 2005. In October 2006, the site was acquired by Conde Nast Publications. Reddit became a subsidiary of Condé Nast’s parent company, Advance Publications, in September 2011. As of August 2012, Reddit operated as an independent entity, although Advance was its largest shareholder.

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