Reddit raising funds valuing company at US$1.7b: sources
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REDDIT is one of the few relics of the mid-2000s Internet that has not only survived but thrived in recent years. Now venture capitalists are giving a major boost to the link-sharing website, with funding that will give the company a valuation of about US$1.7 billion, two people familiar with the matter said.
In recent weeks, Reddit Inc was looking for investments totalling about US$150 million, said one of the people, who asked not to be identified because the terms are private. A spokeswoman for Reddit said no funding had been finalised, declining to comment further.
