Reddit still falls short of other major social media sites in its growth. Of course, text isn't going anywhere either."
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I think there's a version of Reddit that's even better watched than it is read. We're looking forward here to another big evolution of Reddit. "Every time we add a new content type, our users are creative in new ways and usually in ways that we can't predict. "If we go back in the past, 15 years ago Reddit was just links, and then we added text and images and third-party video and our own video," Huffman said. The site's infamous WallStreetBets forum now has more than 10.7 million participants. Reddit, founded in 2005, had 52 million daily active users and 100,000 subreddit communities as of January, according to Reuters. Reddit also reached $100 million in advertising revenue for the first time in the second quarter of 2021, which is a 192% increase compared with the same period last year. In February, shortly after the Reddit-fueled GameStop saga, the social media site completed a capital raise that doubled its valuation to $6 billion. The company said it had already raised $410 million from Fidelity in its second funding round since the start of the year when small-time traders gathered on its platform in their battle against Wall Street institutions.
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Interesting sites like reddit series#
Reddit announced on Thursday it will raise up to $700 million in a Series F fundraising round led by Fidelity Management, giving it a valuation of over $10 billion, more than triple what it was worth in February 2019.