New Fund round liberates spending of redesign at Reddit
Reddit is a social news assembly, discussion website. It is the source of what is popular and new and they have just received a new fund totaling in the millions.
Social media users at the site can vote on what they want Reddit to display on the site. Because of this, it is constantly changing and in motion with updates. It features top tabs ranging in from hot, new, rising, controversial, top, gilded, wiki and promoted topics.
One thing that hasn’t changed since their launching in 2005 is the news feed and its presentation. Users have been happy with the original setup. It has come to be a reliable place. Because of its consistency, mobile users stay loyal to Reddit’s site.
Due to a new funding round on the part of firms from Silicon Valley, Reddit has been awarded $200 million. Silicon Valley is a small world, and the investing companies all want a piece of the action in seed funding to build a bigger portfolio and increase their net worth personally and corporately.
Some of the companies who are part of the major investor’s ball game are:
- Felicic Ventures
- First Round Capital
- Y Combinator
- Founders Fund
- Softech VC
- Andreessen Horowitz
- NFX Guild
- Lowercase Capital
- SV Angel
- Social Captial
The new investment will put Reddit’s worth at $1.8 billion
Fundraising for all the web companies, social media start up and anything tech related takes a great deal of ambition and determination. You have to believe in what you are doing so you can pitch it and sell it. However, at the end of the day, the same entrepreneurs need to come home and reinforce their original basic goals for their companies.
Inevitably, fundraising does get easier each time you do. Evidently, as a company gains popularity and a continually growing number of hits, the attention of your target investors piques.
Most of the funding these days comes directed toward high tech seed companies. The pressure to prove yourself must be overwhelming. Investors aren’t interested in wasting their time or money.
The new money Reddit inherits will help to expedite some business efforts and internal product. Furthermore, allocated from the new funding, leaders at Reddit have finally decided to redesign their site. Intending to create more visual lures so that people will engage in conversations hidden underneath all the headlines. Additionally, uploading of videos will be made possible.
Some say the redesign resembles the timeline on Twitter and Facebook’s news feed
However, Reddit followers make up 20% from mobile sources. Constantly on the go, Reddit users need easy, swift access. They want something simple to read and follow. This redesign will certainly make a statement.
The question is, is it one the owners want to make. They are confident users are transitioning even more to mobile, and they intend to make the change too. Being used to variables and changes with updates, Reddit is confident the change won’t lose.
After all this time a facelift will be good. No one wants to be thought of as old. Particularly a high tech company. In a world where millennials rule, old is out.