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Reddit Just Raised $50 Million From A Group Of A-List Investors

Reddit Just Raised $50 Million From A Group Of A-List Investors

Posted by Liliana Castaño on October 01, 2014

On Tuesday, Reddit announced that it had raised $50 million in new funding at a $500 million valuation. It's not your usual funding round. 

Look at the list of investors:

Re/code reports that the investors include Y Combinator president Sam Altman, rapper Snoop Dogg, singer and actor Jared Leto, Peter Thiel, Ron Conway, Andreessen Horowitz, Sequoia Capital, Gmail creator Paul Buchheit, Y Combinator founder Jessica Livingston, Minted CEO Mariam Naficy, Thrive Capital founder Joshua Kushner, Eventbrite executives Kevin and Julia Hartz, and Reddit CEO Yishan Wong.

And then there is the valuation: only $500 million? If Yahoo or AOL — or anyone — had a chance to buy Reddit for that tiny sum, the deal would already be done. We live in a world where Tumblr is worth more than $1 billion, after all. The presumed explanation is twofold: That Reddit's users are so suspicious of monetization (i.e. advertising) that they might leave en masse following an acquisition; and that Reddit is full of questionable content (there is a lot of porn on it, some of it featuring violence against women).

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