Reddit has two million new users in January
The online forum Reddit, through which users agreed to buy so-called meme shares in January and thus strongly influenced the prices, can look forward to the rapidly growing number of downloads of their own app. As Sensor Tower found, Reddit was downloaded 6.6 million times in January, which is an increase of 2 million downloads compared to December 2020 (4.6 million downloads).
The total usage of the app also increased sharply in January compared to the previous month. The number of active users has increased by 54 percent. Compared to the same month last year, the app grew by 128 percent in January and now has around 122 million downloads worldwide, with around 46 percent of users from the USA.
Reddit raises $ 250 million
The company recently took advantage of this current hype to raise another $ 250 million from investors in a Series E financing round, as Reddit announced on February 8, 2021.
As a result, the company’s value was increased to six billion US dollars, which corresponds to a doubling of the previous company valuation from 2019.
The newly gained capital will be used for the internationalization and general growth of the platform. According to Reddit, the workforce of the California-based company will be doubled and additional features will be integrated into the portal’s interface.
In terms of international growth, Reddit strives to attract new communities from other language areas. German-language forums already exist, but the platform is dominated by US users. In addition, the company is apparently planning to implement the cryptocurrency Ethereum, as the recently announced partnership with the Ethereum Foundation suggests.
Henry Ely / Forex-news.com.net editors
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