Reddit is now valued at more than $10 billion
Illustration by Alex Castro / The Verge
Reddit, the self-declared ‘front page of the internet,’ says it is now valued at more than $10 billion after raising an additional $410 million in funding, with the final round expected to grow to up to $700 million. The company continues to build and sanitize its business, removing racist, misogynist, and otherwise controversial communities, as it prepares to go public at some point in the future.
“We are still planning on going public, but we don’t have a firm timeline there yet,” Reddit’s co-founder and CEO Steve Huffman told The New York Times in an interview. “All good companies should go public when they can.”
The company previously raised $250 million in funding earlier this year for a valuation of $6 billion. But Huffman told the…