The announcement of a new round of investments expanded Reddit‘s presence on the stock exchange. This Thursday (12), the social network indicated that it will receive US$ 700 million (about R$ 3.6 billion, in direct conversion) from the Fidelity Management group, which, at the beginning of the year, had already granted US$ 410 million (R$ 2.1 billion) for the company.
With the news, the company was valued at US$ 10 billion (R$ 52.3 billion). Among the most recent participants are venture capital firm Andreessen Horowitz, funds such as Sequoia Capital and Tencent Holdings, and rap star Snoop Dogg.
This is the third time the company has raised funds in 2021 alone. Created in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz, Reddit attracts millions of experts and enthusiasts from various fields of activity to the discussion groups within the platform it offers , capable of changing the financial scenario of world market giants.
In January of this year alone, Reddit registered more than 52 million daily active users, in addition to more than 100,000 communities.
$100 million in ads
Its growth is not comparable to that of competitors such as Twitter (US$52 billion, or R$273 billion) or Facebook (US$1 trillion, or R$5.2 trillion), which, launched at the same time, registered in June this year, respectively, 206 million and 2 billion active users are able to see ads on their profiles.
In any case, Reddit achieved for the first time since its arrival on the internet a turnover of US$100 million (R$525.1) in advertising in the second quarter of 2021.