Reddit to Raise $700M in Series F Funding Round

The company’s valuation will top $10 billion

Mark your calendar for Mediaweek, October 29-30 in New York City. We’ll unpack the biggest shifts shaping the future of media—from tv to retail media to tech—and how marketers can prep to stay ahead. Register with early-bird rates before sale ends!

Reddit plans to raise up to $700 million in series F funding, led by Fidelity Management and Research and including other existing investors, which would bring the company’s valuation to more than $10 billion.

The company said in a blog post Thursday that the second quarter of 2021 marked its first ever quarter with advertising revenue of more than $100 million, and the total was up 192% year over year.

Reddit also pointed out its addition of Drew

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in