The Tencent-backed online community has added approximately $168m to a series E round with a $500m target for its close.

Reddit, the US-headquartered online community operator that counts internet group Tencent as an investor, has increased its series E round to almost $368m, it confirmed to TechCrunch yesterday.

The company raised $250m for a first close led by venture capital firm Vy Capital earlier this month at a $6bn pre-money valuation.

The additional funding came from unnamed new and existing investors and was originally disclosed in a securities filing indicating the round has a $500m target for its close.

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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