Reddit to Double Workforce After Raising $250 Million

Reddit to Double Workforce After Raising $250 Million

Reddit to , Double Workforce , After Raising $250 Million .

The company's funding round announcement comes after the website's subreddit, r/WallStreetBets, .

Gained international attention for banding together to raise share prices of GameStop, AMC and more.

Reddit plans to use the $250 million to invest in advertising, products for consumers, video and global expansion.

The company said it spent its entire marketing budget on a 5-second Super Bowl ad celebrating the GameStop achievement.

Reddit currently has about 700 employees, with over 600 of them based in the United States.

It intends to hire about 700 more employees this year.

According to 'The Wall Street Journal,' the new funding caused Reddit's valuation to double to $6 billion.