Reddit: $250 Million Funding And $6 Billion Valuation

By Amit Chowdhry ● Feb 9, 2021
  • Reddit has raised $250 million in a new round of funding at a $6 billion valuation. These are the details.

Social news aggregation company Reddit announced it has raised over $250 million in a new round of funding at a valuation of $6 billion. This valuation is up from $3 billion as of February 2019.

“We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets,” said Reddit in a blog post. “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.”

Currently, Reddit is seeing over 50 million daily users. And direct advertising revenue has increased 90% year-over-year in the last quarter.