”Reddit” the social news aggregation, web content rating, and discussion website has continued to raise funds that it intends to use to grow its business and expand globally, capitalizing on this last month’s GameStop share boom.
The American company said it raised $ 368 million from the sale of preferred shares, and that the total amount it aims to raise is $ 500 million.
Currently, the total market value of Reddit is over $ 6 billion.
Founded in 2005, Reddit allows users to submit posts or links to articles and asks the community to vote on each. Having slowly entered the mainstream, Reddit is now one of the most visited sites in the U.S.