Reddit has announced that it has raised a further $250 million in Series E funding, the new funds are from existing and also new investors.
The company have said that they will be making ‘strategic investments’ in ‘video, advertising, consumer products, and expanding into international markets. ‘.
We have raised more than $250 million in Series E funding from existing and new investors. We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets.
We are also readying to double the number of Reddit employees this year; it’s surprising not only for the pace of growth but also that such a relatively lean team has been behind one of the most visited websites in the world. We are confident in our mission to provide community and belonging to everyone and are well-positioned for the growth we have planned.
You can find out more information about Reddit’s plans over at the company’s website at the link below.
Source Reddit
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