News > Reddit's valuation doubles to $6 billion after new $250 million funding

Reddit's valuation doubles to $6 billion after new $250 million funding

Business Standard | 09/02/2021 12:50 PM | Click to read full article

Reddit Inc, which has been at the heart of a recent social media-driven retail trading frenzy, said on Monday it raised more than $250 million in a new round of funding that has doubled its valuation to $6 billion.

"Valuations are very high right now. It never hurts to raise money when there's an opportunity to do so and Reddit had a strong year," Chief Executive Officer, Steve Huffman was quoted as saying by the WSJ.