Shulou(Shulou.com)05/31 Report--

Despite its investor appetite and "it can't refuse" financing offers, Reddit admits it is growing "in the shadow of Facebook and Google". Its 50 million daily active users and 100000 forums have just made its valuation exceed 10 billion for the first time.

Instead of celebrating exponential growth and rushing to Wall Street, the platform is more content to appreciate the extra time it will spend before it goes public with $410 million in new funding. A cautious strategy, always measured, is, of course, the right approach in a highly competitive market.

The new financing is led by Fidelity Investments. For the New York Times, Reddit said that if historical investors agreed to join the round, the amount could continue to climb to about $700m. Steve Hoffman, co-founder and chief executive of Reddit, said in an interview: "Fidelity made us an offer we can't refuse."

"We are still planning to go public, but we don't have a definite timetable," he said, adding: "all good companies should go public when possible," referring to SPAC's current bet with very young companies in the early stages of the stock market, putting aside the more cautious fundraising in the first few years.

In addition to saving time, Reddit says it wants to roll it out more widely and avoid offering only U.S.-centric platforms. In response, its CEO only complements this goal: "the first task of the product is to make Reddit better," he commented. Its second-quarter results were green. The ads on its interface allowed him to break the revenue threshold of $100 million, a year-on-year increase of 192%.

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