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Uh-Oh, You're Not Supposed to Ask Questions Like That, Ted! (files.catbox.moe) ⚠ NSFCucks ⚠
posted ago by johnsonjackson13323 ago by johnsonjackson13323 +4475 / -0
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– the-new-style 11 points ago +12 / -1

They were part of a group that bought 10% for $300,000,000

Condé Nast Publications acquired the site in October 2006.

In 2011, Reddit became an independent subsidiary of Condé Nast's parent company, Advance Publications.

In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto. Their investment valued the company at $500 million then.

In July 2017, Reddit raised $200 million for a $1.8 billion valuation, with Advance Publications remaining the majority stakeholder.

In February 2019, a $300 million funding round led by Tencent brought the company's valuation to $3 billion.

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