Reddit is increasing $150 million to $300 million to help keep the page that is front of internet running, numerous sources tell TechCrunch. The series that is forthcoming round is said to be led by Chinese tech giant Tencent at a $2.7 billion pre-money valuation. Based on simply how much follow-on money Reddit drums up from Silicon Valley investors and past, its post-money valuation could achieve an epic $3 billion.

Certainly, 330 million month-to-month users that are active frequent its 150,000 Subreddits. That warrants the boost to its valuation, which formerly reached $1.8 billion whenever it raised $200 million in July 2017. As of then, Reddit’s bulk stake ended up being nevertheless held by publisher Conde Nast, which purchased in straight back 2006 simply an after the site launched year. Reddit had raised $250 million formerly, therefore the round that is new push it to $400 million to $550 [...]