📝Reddit has doubled its valuation in a latest round of funding to $6 billion, reports The Wall Street Journal. This follows the millions of new users joining the social media platform in the wake of its role in the GameStop trading frenzy. Reddit was last valued a year ago at $3 billion and plans to invest in video, advertising and consumer products, as well as expanding its international presence, with the new funding, according to CEO Steve Huffman. It's also aiming to double its head count to approximately 1,400 employees.
Team
- 📝Brian Swichkow, aka u/brianswichkow
- 📝Chris Sontag-Ratti, aka u/ShittyMorph, top 10
- 📝Max Schlienger, aka u/RamsesThePidgeon, top 10
Partners
- 📝One Studio (formerly 📝Ghost Influence)
- 📝ALAN Analytics (see: 📝ALAN+Reddit)
Advisors
- 📝Robert Allam, top 10 Redditor with 30M+ Karma
News
- Reddit’s Valuation Doubles to $6 Billion After Funding Round, wsj.com
- Reddit’s 5-Second Ad Was an Unlikely Super Bowl Winner, nytimes.com
- Reddit Claims 52 Million Daily Users, , Revealing a Key Figure, wsj.com