Reddit ups Series E round for another $116 million

Reddit, which announced a $250 million Series E earlier this month, has added over $116 million to the that event, upping the round’s new total to $367 million, guidelines a new SECURITIES AND EXCHANGE COMMISSION’S filing . The document indicates Reddit is aiming to raise up to five hundred dollars million in this capital raise.

A Reddit spokesperson found the news, saying that the new capital will from ”new and existing instantaneously. ” They offered no specs on names. The spokesperson are you aware confirm that the new capital did not contain a new valuation, keeping the platform in its previously announced valuation of $6 billion pre-money.

Reddit is a 16-year-old company with much more $800 million in known dare to go funding. It has been in the spotlight for the past month or two, with co-founder Alexis Ohanian resigning over the right manner concerns , to, more recently, the dog’s role in the election and the meteoric increasing number of GameStop’s stock due to the subreddit r/WallStreetBets .

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