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Reddit gets a massive $250 Mn funding infusion – Top Tech News

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Reddit gets a massive $250 Mn funding infusion

A photo showing logo of tech startup Reddit

reddit logo

Reddit, which calls itself the front page of internet, has just raised $250Mn in a series E funding round. With the latest funding round, the company has so far raised $800 Mn till date. The latest funding round has come hot on the heels of the raging public debate over platform’s controversial role in the recent unprecedented rise and spectacular fall in the Gamestop stock. The company said that it will use the funds for investing in videos, advertising and consumer products and for ramping up its presence in the international market. The company had also recently hit the headlines for acquiring Dubsmash.

2

DoorDash makes first acquisition post its blockbuster IPO

DoorDash announced on Monday it has acquired salad making robotic company Chowbotics. The financial details of the deal was not disclosed but is confirmed that Chowbotics’ entire team will merge with the food delivery major. This is DoorDash’s first big acquisition post its blockbuster IPO that took place in the end of 2020. The company is already a market leader in America’s burgeoning food delivery market and is now aggressively looking to consolidate its position in the market following its highly successful IPO last year.

3

In Tesla, Bitcoin has Probably found its Best Investor

On Monday, Bitcoin probably experienced its best ever moment in its decade long existence, after EV auto giant Tesla announced that it has invested whopping $1.5Bn in world’s most popular cryptocurrency. The Good news doesn’t just end here. Tesla has further said that it will accept Bitcoin as a mode of payment in the future. As was expected, this announcement had an emphatic impact on Bitcoin’s price as it touched all time high price of $43,000.

4

          Maya, Bangladesh based healthcare startup raises seed funding

Maya, a Bangladesh based health startup that is dedicated for women’s health, has raised $2.2 Mn in seed funding. The round was led by Anchorless Bangladesh and The Osiris Group. The company said that this is the largest seed funding round invested in Bangladeshi health startup till date.

5

Facebook to take more stringent action against vaccine misinformation content

Facebook has said that it will be more stringent in taking down content that tries to spread misinformation about COVID-19 vaccines. The social networking giant will remove any content that tries to claim that COVID-19 vaccines are ineffective and other misinformation including that COVID-19 vaccines could cause autism.

                 

 

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