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Reddit to Raise Capital, Valuing Company at $1.7 Billion or 85 Times Sales

 

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.

The last time Reddit raised capital was in 2014, $50m at a $500m market cap.

Trump Cornered: White House Pushing To Weaken Russia Sanctions Bill

Trump Cornered: White House Pushing To Weaken Russia Sanctions Bill

After the Senate overwhelmingly passed a bill to implement new sanctions against Russia over "interference in the 2016 U.S. elections" and curbs President Trump’s power to ease penalties against Moscow in the future - without consultations with US allies in Europe -  President Trump has found himself cornered in what appears to be a lose-lose position.

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