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Reddit to Raise Up to $700 Million at a Company Valuation of ‘Over $10 Billion’
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thewrap.com
thewrap.comReddit did wonders for GameStop and AMC Entertainment stocks during the throws of the COVID-19 pandemic, and now the website is raising (even more) massive amounts of capital for itself.In a Thursday blog post, Reddit said it will “raise up to $700 million” in the company’s Series F funding, which is being led by Fidelity Management and Research Company LLC.
The latest round also includes other previously existing investors. That capital is based on a post-money company valuation of “over $10 billion,” Reddit said.
Yeah, that’s “10” with a “10” and “billion” with a “B.”“We are making strategic investments to grow Reddit and our business, including expanding internationally, innovating new ways to foster community, and bolstering our.
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