CEO Steve Huffman said Reddit plans to use the additional investments to underpin the expansion into new markets, and product improvements, such as enhanced video capabilities and making the website run faster. https://t.co/1iGmyZcDDc via @WSJ

— Bowdeya Tweh (@BowKnowsBiz) August 12, 2021

Holy cow – definitely going to buy stock if it goes public.https://t.co/P4mKmMeCMm

— John Legere (@JohnLegere) August 12, 2021

So proud of the team on this milestone. Truly an incredible group of people. It's an honor to work on something you love & use everyday. Gratitude. https://t.co/MxlG5JX0RJ

— Jason Costa (@jasoncosta) August 12, 2021

Reddit is now valued at more than $10 billion - The company is still planning on going public https://t.co/7KHFh8N88z

— Aki Anastasiou (@AkiAnastasiou) August 12, 2021

The stock-trading frenzy earlier this year heaped a ton of attention on to Reddit. After completing a raise in the midst of it, Reddit is raising another round: $410 million of the planned $700 million is coming from Fidelity.

— Bowdeya Tweh (@BowKnowsBiz) August 12, 2021

Facebook buying Instagram for $1B is forever the biggest steal in tech. https://t.co/EazKooUvhs

— Jack Appleby (@JuiceboxCA) August 12, 2021

A few years ago I had the opportunity to invest in @Reddit through an SPV and my entire thesis was simply "if the internet likes it, it will be valuable."

Today the company is worth $10 billion. The internet's addressable market is unfathomable. https://t.co/lNpFNzEE9a

— Pomp ? (@APompliano) August 12, 2021

NEW: @Reddit will raise up to $700 million in Series F funding, led by Fidelity and other existing investors, at a post-money valuation of over $10 billion. https://t.co/WIWPU9Llg5

— Sara Fischer (@sarafischer) August 12, 2021

Social was undervalued for so so long. The world finally woke up and valued all these products closer to where they should be over the last few years, as even prev gen marketers realized they had been allocating wrongly. We're still early, too. https://t.co/8QxuSnu3hf

— Adam Singer (@AdamSinger) August 12, 2021

Feels like Reddit's valuation is finally catching up to its impact and reach https://t.co/Wmfzi4RXnE

— Austin Johnsen (@AustinJ) August 12, 2021

Although a hefty sum, the $10 billion valuation pales in comparison to $TWTR $52 billion or the $1 trillion value of $FB , both founded around the same time as @Reddit
Story with @Subrat_Patnaik @ReutersNoor https://t.co/WZ9caqulUf #funding #reddit

— Noor Zainab Hussain (@ReutersNoor) August 12, 2021

Reddit will raise up to $700 million in a fundraising round led by Fidelity Management, the social media network said, tripling its valuation to more than $10 billion https://t.co/0DA1f8rhex pic.twitter.com/qoMyu0rRjo

— Reuters Business (@ReutersBiz) August 12, 2021

??? Reddit is raising a new round of funding setting their valuation at $10 billion.https://t.co/gyJXmXLuGr

— Brendan Gahan (@brendangahan) August 12, 2021