NDM Post 13

Reddit secures $50m in fundraising from investors including Snoop Dogg

The article focuses on clash of the fundraising for reddit and the closure of the community the Fappening which was the subreddit that posted the celebrity nudes. Complaints arose stating that the two events were connected the CEO Yishan Wong denied any connection between the two. funding for the site came from venture capitalists and investors including rapper Snoop Dogg. Wong wanted 10% of the new shares to go to the users of reddit although they don't know how to do so the want to reward the user for their contributions.

- Reddit has secured $50m (£31m) in funding from venture capitalists and investors.

- The Fappening provided a home of sorts reportedly attracting more than 250m views in days.

- Reddit only has 60 odd workers under the company.

The funding for the site is good as it would enable them to upgrade their security on the site and enable them to hire more workers that can focus on looking for subreddits such as the fappening.

http://www.theguardian.com/technology/2014/oct/01/reddit-secures-50m-fundraising-investors-snoop-dogg