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Reddit valued at $6B on a $250M round

reuters.com

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Re: Reddit valued at $6B on a $250M round

#321

Post by theXspidy »

## Reddit's valuation doubles to $6 billion after new $250 million funding

![Reddit](https://static.ideastoday.in/opinion/digest_media/s_static_i...)

Reddit Inc. announced on Monday that it has raised over $250 million in a new round of funding (series E), doubling its valuation to $6 billion, reports [Reuters](https://www.reuters.com/article/us-reddit-funding/reddits-va...).

The big picture: Reddit said in a statement that it plans to make "strategic investments" in the video, advertising, and consumer products, and expand into international markets.

- The platform has 50 million active daily users. Reddit's advertising revenue rose 90% in the last quarter from a year ago, as the platform was at the heart of a [retail trading frenzy](https://ideastoday.in/digests/whats-going-on-with-gamestop-m...) involving "meme stocks" such as GameStop and AMC.

- "It's a good market to fundraise," Reddit CEO Steve Huffman told the [WSJ](https://www.wsj.com/articles/reddits-valuation-doubles-to-6-...). "Valuations are very high right now. It never hurts to raise money when there's an opportunity to do so and Reddit had a strong year." Of note: The platform recently drew attention for this 5-second static-image ad during the Super Bowl, per [TechCrunch](https://techcrunch.com/2021/02/08/reddit-raises-250-million-...).

## Headlines

- Uber Founder Launches [Luxury Airline](https://www.vice.com/en/article/y3gkk7/aero-luxury-airline-u...) So Rich People Can Go on COVID Vacations

- EA is purchasing Glu Mobile for [$2.4 billion](https://www.engadget.com/ea-purchasing-glu-mobile-045832340....)

- Clubhouse in China Is a Party That Knows the [Cops]9https://www.inkstonenews.com/tech/clubhouse-china-party-know...) Are Coming

- Bitcoin and Dogecoin Are Boosted by [Elon Musk](https://www.nytimes.com/2021/02/08/technology/dogecoin-bitco...)

- Three Mars Missions Arriving in [February 2021](https://www.dw.com/en/three-mars-missions-arriving-in-februa...)

- Watch: A Billion Years in [40 Seconds](https://phys.org/news/2021-02-video-billion-years-seconds.ht...)

Get Daily News Like This *[CutThroughTheNoise](https://CutThroughTheNoise.co)*

## After three months, WhatsApp Pay registers slow growth

WhatsApp Pay has processed just 1.6M of the 6.7B+ UPI transactions in the country since its launch in November, writes [The Economic Times](https://economictimes.indiatimes.com/tech/technology/after-t...).

Between the lines: WhatsApp insiders say this slow growth has been due to choice; as the company wants to get the technology right and ensure a smooth user experience before marketing the service.

- However, market observers feel that current concerns about the ownership and privacy of digital data and big tech firms' power could be part of the reason. - Also, WhatsApp Pay went live after months of regulatory hurdles, and that too for a restricted user base of 20 million. Some experts say that WhatsApp might be waiting for these restrictions to be lifted, to ensure a low rate of transaction failures via the platform. - Others also say that WhatsApp may not have invested adequately in technology and talent acquisition.

Of note: WhatsApp's controversial global privacy policy update does not apply to its payment services, which are governed by the India Payment Privacy Policy mandated by RBI and NPCI.

Also read on [BloombergQuint](https://www.bloombergquint.com/business/slow-start-for-whats...).

Get Daily News Like This *[CutThroughTheNoise](https://CutThroughTheNoise.co)*

Re: Reddit valued at $6B on a $250M round

#322

Post by tomcam »

Lutger wrote: post #256
bad_username wrote: post #188

Earlier quoted context omitted.

In terms of features and intent HN is similar to Reddit. But HN is miles and miles ahead in the quality of discussion, moderation, and diversity of thought and opinions.

Really impossible to compare. There are very good subreddits, even better than HN, and then there's stuff like r/The_Donald. HN is just a single community, reddit has tons. It also just depends on your subject of interest and what tone of voice, humor, etc your are appreciative of.

r/The_Donald isn’t a thing

Re: Reddit valued at $6B on a $250M round

#323

Post by xwdv »

betwixthewires wrote: post #207
comboy wrote: post #80

Earlier quoted context omitted.

Reddit is a company that made people moderate their content for free. You don't need to know sub names to get some use of it. I append "reddit" to probably 1/3 of my search engine queries. Especially useful when looking for product recommendations.

My favorite reddit search result story: I asked a question once on Reddit, got no answer, figured it out on my own, then added my solution to the thread because I've been saved countless times by the guy that does that on the internet and I wanted to pay it forward. A couple years later, I have the same problem and remember solving it but don't remember how, search it and find my own answer. This distils down basical…

This must be what time travel feels like.

Re: Reddit valued at $6B on a $250M round

#324

Post by romanows »

TheRealDunkirk wrote: post #317
comboy wrote: post #80

Earlier quoted context omitted.

Reddit is a company that made people moderate their content for free. You don't need to know sub names to get some use of it. I append "reddit" to probably 1/3 of my search engine queries. Especially useful when looking for product recommendations.

I append "-site:reddit.com" to my programming queries, if it's coming up in results, because it takes multiple clicks in their slow, user-hostile web application to expand the conversation, and there's NEVER an answer there.

That's the new, terrible interface. Replace the "www" with "old" in the URL, like "old.reddit.com". If you create an account, you can configure "old reddit" to be your default. There are also browser add-ons that will rewrite the URLs automatically. The difference is night and day.

Re: Reddit valued at $6B on a $250M round

#325

Post by TheRealDunkirk »

308 comments at the time of this writing, and no one has talked about the fact that -- given the relative user counts and traffic -- all of normal subs are just a legitimacy-conferring facade over the NSFW content? Reddit is the largest non-MindGeek porn site on the internet. I would guess that the revenue from this side is what makes the whole thing work.

Re: Reddit valued at $6B on a $250M round

#326

Post by Triv888 »

christkv wrote: post #189
sprite wrote: post #178

They are purposefully making Reddit absolutely terrible on mobile web browsers. They constantly try to force you to download the app, don't let you read full threads without it, etc. It seems it just constantly gets worse and worse.

I just use old.reddit.com instead

ns.reddit.com is the same as old.reddit.com, I think ... and I use the Redirector addon to make sure that I never see the new reddit.

Re: Reddit valued at $6B on a $250M round

#327

Post by tomcam »

patrickk wrote: post #203
frakkingcylons wrote: post #135

Earlier quoted context omitted.

My issue is that you can’t serendipitously stumble upon random interesting subreddits without using the front page.

Search a topic through multireddit and you’ll often find users collection of related subreddits on a given topic, e.g. DIY https://old.reddit.com/user/patrick_k/m/diy/

I get a page not found error from reddit

Re: Reddit valued at $6B on a $250M round

#328

Post by Triv888 »

OmegaPG wrote: post #279

I am a digg refugee and using Reddit for 12 years. Reddit has some serious lack of moderation issues and too much politics now a days. Most of the country based subreddits are hijacked by the political ideologies of just 1-2 moderators. For example, /r/India is hijacked by the moderators with political affiliation to Congress and AAP and they ban users immediately with any opinion which doesn't fit their narrative. I…

agreed... for example, /r/politics is 99% democrat

Re: Reddit valued at $6B on a $250M round

#329

Post by wrinkl3 »

TheRealDunkirk wrote: post #325

308 comments at the time of this writing, and no one has talked about the fact that -- given the relative user counts and traffic -- all of normal subs are just a legitimacy-conferring facade over the NSFW content? Reddit is the largest non-MindGeek porn site on the internet. I would guess that the revenue from this side is what makes the whole thing work.

Reminds me of Tumblr. I wonder if it'll have to do a similar crackdown if new legislations get passed.

Re: Reddit valued at $6B on a $250M round

#330

Post by Kbelicius »

leereeves wrote: post #293
Kbelicius wrote: post #289

Earlier quoted context omitted.

> The toxic content is still there though, like a LeopardsAteMyFace post crowing about the death of Ron Wright, and as if to prove my point: "This thread has been locked due to extremely toxic and rude comments." Such as the top comment "...I'm really past playing nice with even the memory of these fucks...... Rot in hell, Ron." Comment that you decided to quote contains no conservative hating just hate towards Ron,…

> Why would you even think that that was a conservative hating comment? The hate in that comment wasn't directed only at Ron: "people like this", "these fucks". The comment doesn't specify who "these fucks" are, but the sub generally directs hate toward conservatives, so that's a reasonable assumption. > because of his behavior and others who behave in that way Others who behave in what way? The post I linked contain…

> The fact that people like this die due to covid and that you have people who "don't care until affects them" is a sad condition in this country and I'm really past playing nice with even the memory of these fucks......

That is the whole sentence of which you quoted a part earlier. That sentence clearly specifies who "these fucks" are.

> The post I linked contains only a tweet from him criticizing the hypocrisy of allowing big stores to remain open while closing small businesses. Is that hate-worthy?

Is that hate-worthy? I don't think that pointing out hypocrisy is hate-worthy but I see no criticism of hypocrisy in that tweet. There is no hypocrisy, by default, in closing some businesses and not others.

I just noticed something. Ron did the same thing you did. You left out a part of the sentence that clearly show who "these fucks" are. Ron left out what these other small business are. He included restaurants but I don't see how anybody could claim that in this situation there is hypocrisy in closing restaurants and not closing general stores.

Was that on purpose on both your accounts I don't know but lying can be hate-worthy.

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