Fidelity has provided the first $410m for a round set to value the Tencent-backed social media platform developer at $10bn post-money.
Reddit, the US-based online community operator backed by internet group Tencent raised an amount of series F funding reported by the Wall Street Journal to be $410m yesterday.
The cash came from investment and financial services group Fidelity, which is set to lead a round Reddit said is expected to close at $700m, at a post-money valuation of $10bn, up from a $6bn pre-money valuation for its last round.
Founded in 2005 and dubbed The Front Page of the Internet,…
