Todd Spangler NY Digital EditorReddit, the self-proclaimed “front page of the internet,” has banked $250 million in new growth funding — giving the online discussion site a valuation of $6 billion.The company announced the funding round late Monday.
The funding was led by VC firm Vy Capital with participation from existing investors and doubled its valuation, per the Wall Street Journal.
In 2019, Reddit raised $300 million in funding, valuing the company at around $3 billion, from investors including Tencent, Sequoia Capital, Fidelity and Andreessen Horowitz.Reddit, which says its site attracts more than 50 million daily users, has been in the headlines the last several weeks — after users on one of its discussions forums,.
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