Press "Enter" to skip to content

The Criticized Company Reddit – Raises $250 Million

“We have come a long way in recent years to focus more on the needs of the hundreds of thousands of communities that make up Reddit,” the company stated in a blog post. “We have dedicated ourselves to Reddit because we believe in the power of communities that provide a sense of belonging and connection as real as the ones we make offline.”

Reddit has been extremely seen in latest days. Last month, shares of the video-game retailer GameStop soared as customers of Reddit’s WallStreetBets discussion board, which is named a “subreddit,” egged each other on to purchase the stock, partly to entrap hedge funds that had wager the stock would fall.

That despatched GameStop’s stock on a rare and unstable experience. After a flurry of media consideration, the WallStreetBets discussion board ballooned to greater than seven million members. Multiple e-book and movie possibility rights have been shopped over the saga, with the prospect of fame and money embroiling the discussion board’s moderators in bitter disputes.

Reddit was additionally broadly praised for a five-second industrial that aired throughout the Super Bowl on Sunday, which turned one of the most talked-about adverts on a day that was crowded with talked-about adverts. Reddit’s spot, which required viewers to pause their tv screens to learn it, proclaimed, “Wow, this actually worked.” Viewers scrambled to seize screenshots of one of the shortest-ever Super Bowl adverts to submit to social media.

Reddit has had its share of controversy over the years. The company has lengthy been criticized for its laissez faire method to content material moderation, which allowed racist, sexist and troll-filled communities to flourish. At one level, Reddit refused to take away subforums devoted to racist commentary, citing the want at no cost and unfettered speech.