Reddit raises $250mn in Series E funding, now has over 50 mn daily users

Online public discussion platform Reddit has raised $250 million in the new Series E funding round.

The company, now in its 16th year of operation with more than 50 million daily users, has raised nearly $800 million to date, including a Tencent-led $300 million Series D in February 2019.

“We have raised more than $250 million in Series E funding from existing and new investors. We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets,” the company said in a statement late on Monday.