During the round, the firm aims to receive up to $700M. Next, as noted in the company’s blog, its estimated worth is expected to grow to $10B.
It was earlier that Reddit started actively raising funds to grow and conquer new areas. At the time, the company’s estimated value was $6B.
“There was a noticeable progress everywhere, from employing our first financial director and creating a full financial management team to growing across the borders – in the U.K., Australia, Canada and elsewhere – going forward,” the company said in a statement.
Reddit also noted it reached the $100 million mark in advertising earnings for the first time in Q2. That’s a 192% increase over 2020.
source: bloomberg.com
