‘Reddit Raises $50 Million, Says Community Will Get Some Shares’ – ‘ReadWrite’
Selena Larson says, “Reddit, one of the most popular sites on the Internet for sharing news, memes, and stories of inspiration, has raised $50 million in funding, and members of the community, known as “redditors,” might be getting a piece of it.
People on Reddit have made the site the massive success it is today—it’s played an integral role in spotting Internet trends long before the masses do. So Reddit CEO Yishan Wong said in a blog post that investors are prepared to give 10% of their shares back to community members. How, exactly, that works remains to be seen”.
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