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Reddit ups Series E round by another $116 million – TechCrunch

Announced Reddit $ 250 Million Series E Earlier this month, more than $ 116 million was added to the funding event, increasing the latest total for the round to $ 376 million, according to the company. New SEC filing.. This document shows that Reddit aims to raise up to $ 500 million in this funding.

A Reddit spokesperson confirmed the news, saying the new capital came from “new and existing investors.” They did not provide name details. A spokeswoman confirmed that the new capital did not come with a new valuation and maintained the platform at the previously announced $ 6 billion pre-money valuation.

Reddit is a 16-year-old company with over $ 800 million in known venture funding. Together with its co-founder, it has been in the limelight for the past few months. Alexis Ohanian resigns due to moderation concerns, Recently with its role in elections GameStop inventory surge due to subreddit r / WallStreetBets..

Reddit ups Series E round by another $116 million – TechCrunch Source link Reddit ups Series E round by another $116 million – TechCrunch

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