News reading site, Reddit, has closed its latest $50m financing venture receiving investments from celebrities Jared Leto and Snoop Dogg.
Sequoia Capital’s Alfred Lin and PayPal co-founder Peter Thiel also significantly contributed to the finance round for the nine-year-old site in addition to the musicians. This will help boost the news-rating site which now sees over 133 million monthly users.
Reddit, which can now be browsed on the Xbox One after a deal was struck with Microsoft last month, will use the money to expand – hiring new staff and developing the product.
The 60-strong team will improve the Reddit experience Read full story ›
Source: The Drum
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