Social Media Platform Reddit Reaches $10 Billion Wealth!
Reddit CEO Steve Huffman announced that they have raised $410 million so far in their latest investor round. Mentioning that they will spend the money they collect to develop Reddit, Huffman said that new video and audio features will be added to the platform.
Steve Huffman, the founder, and CEO of the social media platform Reddit, which is very popular in certain countries and is becoming more and more popular every day, made very important statements in an interview with The New York Times. Mentioning that they are in an investment round for the platform, Huffman announced that their total valuation has exceeded 10 billion dollars with the investment of 410 million dollars they have collected so far.
According to the statements made by Huffman, Reddit's investment round has not yet ended. So the authorities continue to raise funds for the platform. A very confident Reddit spokesperson said that investments will keep coming and will never stay at this level. The company believes it will raise a total of $700 million in its investment round.
With the Investments Made, Reddit Will Be Improved Even More!
Steve Huffman made some statements about how they will evaluate the collected investments. Stating that they are considering new features for the platform, Huffman stated that video and audio features will be added to Reddit and that it will be easier for new users to adapt to Reddit with the work to be done.
There was another point that attracted attention in the statements made by Reddit CEO Huffman. Huffman said they are in the planning stages for the IPO but have yet to establish a definitive timeline. Emphasizing that the public offering is important for all large companies that can do so, Huffman announced that Reddit will also be offered to the public one day.