Reddit Closes $50 Million of Outside Funding - News
by William D'Angelo , posted on 01 October 2014 / 4,980 Views
Reddit has just ended a round of outside funding. The website was able to the $50 million it was looking for, which will go towards hiring more employees for product development, expanding its community management team and more.
"We'd like to announce to that reddit has just closed a $50 million round of outside funding," said Reddit CEO Yishan Wong in a statement. "Our lead investor is Sam Altman, with participation from Alfred Lin of Sequoia Capital and Marc Andreessen of Andreessen Horowitz."
"Led by Sam, the investors in this round have proposed to give 10% of their shares back to the community, in recognition of the central role the community plays in reddit's ongoing success," Wong added.
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A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. Outside, in the real world, he has a passion for the outdoors which includes everything from hiking to having received his B.A. in Environmental Studies. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.
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How is related to games?
Update the website so it doesn't look like it was made by a twelve year old amateur.
Some flashy graphics and distraction rubbish isn't need. The site is rediculously popular both online and in the real world media so I don't see why they would change massively. Heck if you think it would take a 12 year old to throw it together why not start a variant of it and raise 50million outta that.
NO. reddit is nice and simple
