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Reddit is a social news site started by Steve Huffman and Alexis Ohanian in 2005. The company was one of the first companies to Y Combinator’s business accelerator.

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30 Oct, 2014

Reddit $50m Series B funding

Ashton KutcherJared LetoSam AltmanSnoop DoggFundraising0 Comments

Altman leads Reddit’s $50 million Series B round with Andreesen Horowitz and Sequoia Capital, as well as individual investors including Leto, Dogg, Kushner, Livingston, Kevin and Julia Hartz, Mariam Naficy, and Reddit CEO Yishan Wong. Valuation is $500 million. Altman:

I’m willing to be very patient. I don’t have any particular timeframe in mind. I believe that the community is very valuable and that the value will continue to increase. Up to the company if they want to share cashflow details, but they run the company efficiently.