Buoyed by stock market mania, Reddit raises fresh capital

Washington (AFP) – Reddit, the online bulletin board at the center of the recent stock market frenzy, said Tuesday it had raised some $250 million at a reported valuation of $6 billion to fuel expansion of the service. With some 50 million daily users, Reddit remains one of the most visited websites, but has been eclipsed in recent years by rival social media platforms. Reddit, which hosts online chats about numerous topics and whose “subreddit” known as WallStreetBets sparked an upheaval on Wall Street, said it hopes to invest for growth and would be doubling its workforce. The California sta…

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