Reddit Rumored To Be Raising Money, At A $400 Million Valuation

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http://techcrunch.com – Welcome to yet another Rumor Sunday™. In 2011, Reddit was spun out of Conde Nast as a standalone company, but the publishing giant kept full ownership. At the time, Peter Kafka of AllthingsD reported that Conde Nast had considered the option of selling off parts of the company to investors at a $200 million valuation. That idea was scrapped at the time because they didn’t think Reddit needed the money. But we’re hearing now from a source that a little over a year later, that Reddit is raising money. And the company’s valuation has jumped to $400 million. Earlier this year, (IT news)