Andreessen Horowitz

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by @ericof
2021-02-24T06:00:02+00:00
Business • Markets
Reddit raised an additional $118 million to its Series E funding round
Reddit logo
Reddit logo Credit: Reddit

Reddit, which announced a $250 million Series E earlier this February, has added over $118 million to the financing event. The current round total is now $367 million, according to a new SEC filing. The filing shows that Reddit is aiming to raise $500 million in this round.

The Series E, which came from investors such as Tencent, Andreessen Horowitz and Sequoia, valued the firm at $6 billion, double its last valuation from two years ago.

Originally founded in 2005, Reddit has long existed on the nerdy side of the internet, where its text- and image-focused forums have devoted themselves to a wide variety of topics, everything from video games and GIFs to cute pets and cigarettes to Donald Trump and sports.