 "NYSE, STOCK EXCHANGE, us, market, wall street")
(Reuters) - Reddit Inc, which has been at the heart of a recent social media-driven retail trading frenzy, said on Monday it raised more than $250 million in a new round of funding that has doubled its valuation to $6 billion.
The social media company's Chief Executive Officer, Steve Huffman, told the Wall Street Journal (WSJ) that it is a good market to raise funds. https://on.wsj.com/2N5U62
"Valuations are very high right now. It never hurts to raise money when there's an opportunity to do so and Reddit had a strong year," Huffman was quoted as saying by the WSJ.
Reddit said in a blog post that advertising revenue increased 90% in the last quarter from a year earlier. https://bit.ly/3p37uC3
(Reporting by Rama Venkat in Bengaluru; Editing by Devika Syamnath)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
