Reddit secures $50m in fundraising from investors
including Snoop Dogg
This article is about the
social news platform called Reddit, and it addresses the fact that Reddit has
secured $50 million (£31 million) in funding from Venture Capitalists and
investors. Amongst these investors there are names like the actor Jared Leto and
Snoop Dogg. The fundraising was achieved after weeks from banning the “The
Fappening” (A community which was dedicated to posting the nude celebrities
photo after Reddit was accused of being slow to take action). The images were
originally posted on 4chan but The Fappening had provided a home, which
attracted more than 250 million views in days.
Key facts:
- Social news platform Reddit has secured $50m (£31m) in funding from venture capitalists and investors including actor Jared Leto and hip-hop star Snoop Dogg, and is preparing to give 10% of the new shares back to the website’s users.
In my opinion, I believe
that this shows how institutions have attempted to speed up their response
times in crises in order to prevent them happening again. Also, it presents how
celebrities are also backing and supporting this institution.
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