Reddit Is Reportedly Raising Funds, Valuing Startup at $1.7 Billion USD

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Online content and discussion platform Reddit is looking for more funding to reach a $1.7 billion USD valuation, according to Bloomberg.

Inside sources have reported that Reddit Inc. is looking for investments totaling about $150 million USD this time around. In 2014, the website had collected funds from investors including Jared LetoSnoop Dogg, Joshua Kushner, Peter Thiel, Marc Andreessen and other notable figures from Silicon Valley and Hollywood. The previous round raised $50 million USD, which allowed for Reddit’s move onto mobile platforms. The forthcoming plan is to experiment with “various advertising formats and a premium subscription service,” according to Bloomberg.

[Via Hypebeast]

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