Reddit is now valued at over $10bn: Report

San Francisco: Online discussion forum Reddit said that it is now valued at more than $10 billion after raising an additional $410 million in funding, with the final round expected to grow to up to $700 million, the media reported.

According to The Verge, the company continues to build and sanitise its business, removing racist, misogynist and otherwise controversial communities, as it prepares to go public at some point in the future.

“We are still planning on going public, but we don’t have a firm timeline there yet,” Steve Huffman,Aco-founder and CEO, Reddit, was quoted as saying to The New York Times in an interview.