Reddit raised a $50 million round of investment, besides several Silicon valley types two names stick out. Actor and singer Jared Leto and rapper Snoop Dogg.
Reddit was in the mainstream media quite often over the last weeks because it is one of the sites the leaked private celebrity photos have been shared. Now Reddit announced to have raised a $50 million series B financing. The lead investor is Sam Altman, with participation from Alfred Lin of Sequoia Capital and Marc Andreessen of Andreessen Horowitz.
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Other investors participating in this Reddit investment round include Peter Thiel, Ron Conway, Paul Buchheit, Jared Leto, Jessica Livingston, Kevin and Julia Hartz, Mariam Naficy, Josh Kushner, Snoop Dogg, and Yishan Wong.
So why is Jared Leto and Snoop Dogg investing in Reddit? I have no idea. Reddit is trying something new with the investment. The new investors will give back 10% of their shares to the Reddit community. The details on how this will be done are not clear yet.
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Jared Leto is right now touring with his band Thirty Seconds To Mars.