Content originally published at iBankCoin.com
Bloomberg is reporting that Reddit was seeking to raise $150m in new funds, placing the company’s valuation at a staggering $1.7b. This sounds like a fucking bargain, especially when considering the immense traffic on the site — which is now ranked #4 in America and #8 worldwide.
However, according to ReCode, the company barely made $20m in revenues in 2016 — which is an utter and complete disgrace.