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Reddit score doubles to $ 6 billion after $ 250 million in new funding

Summary

Big meditation money, new VC funds, and how do you value Airbnb? Description video: Spotify: https://spoti.fi/2uUtGYN\nApple Podcasts: https://apple.co/2wjUlP6\n\nHello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.\n\nAfter having a good time with […]

Big meditation money, new VC funds, and how do you value Airbnb?

Description video:
Spotify: https://spoti.fi/2uUtGYN\nApple Podcasts: https://apple.co/2wjUlP6\n\nHello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.\n\nAfter having a good time with NEA’s Rick Yang last week, we thought we’d bring on another venture capitalist. So this week Danny and I had Elliott Robinson from Bessemer swing over for the show. As it turned out, he was about as correct as guest as possible as not only did the topics of the week line up with where he invests, he’s also friends with some of the folks that we discussed on the show.\n\nSo what did we talk about? A whole host of things including two rounds:\n\nHeadspace’s fascinating $93 million hybrid, debt-and-equity round that pushes its known capital raised to date ahead of arch-rival Calm’s own.\nNova Credit’s $50 million round to help power its cross-border credit system. (We all thought this one was smart.\nThen we turned to two new funds, including Battery’s battery of new capital vehicles that add up to $2 billion. In this part of the discussion we also touched on capital velocity, and why some firms are writing the same number of checks, but still need more capital. On the other end of the capital spectrum, Equal Ventures put together its first fund, and we riffed on the health of the micro-fund ecosystem.\n\nThe news run continued, with our trio touching on Airbnb’s recent financial results, and our wonderment about how to price the firm, the closure of Brandless (RIP), and the issues at SoftBank.\n\nAll that and we had to leave Lyft’s fascinating earnings and Uber’s profit promises alone as we ran a bit long with just that set of topics. A good week, and we’re back Monday morning!

Reddit score doubles to $ 6 billion after $ 250 million in new funding

Reddit Inc, which has been at the center of the recent social media hype among retailers in the stock market, said Monday it raised more than $ 250 million in a new round of funding, doubling its valuation to $ 6 billion..

Reddit score doubles to $ 6 billion after $ 250 million in new funding

The social media company was previously valued at $ 3 billion after a funding round in February 2019.

«We decided now was the right opportunity for strategic investments in Reddit, including videos, ads, consumer products, and international expansion.», – the company says.

Chief Executive Officer of Reddit Steve Huffman told the Wall Street Journal it was a good market to raise funds.

«Now very high marks. It never hurts to raise money when you have the opportunity to do so and Reddit has had a good year.», – Huffman emphasized.

Reddit, which has more than 50 million daily active users, posted on its blog that ad revenues grew 90% in the last quarter from a year earlier..

Video game retailer GameStop Corp and other companies, including cinema operator AMC Entertainment Holdings Inc, have seen their shares fluctuate sharply in the past two weeks as amateur investors on forums such as Reddit&# 39; s WallStreetBets, have acted in concert to raise the price of their shares, which some US hedge funds have bet against.

This activity attracted the attention of regulators, although the US Treasury Secretary Janet Yellen said on Sunday it is too early to say if new rules are needed to tackle volatility.