Reddit Raises Cash Amid Hand-Wringing Over Nude Photos

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Reddit, known as the front page of the Internet, is raising around $50 million in funding that would value the company at around $500 million, according to a report from Re/code . The news comes as the site has once again played a central role in the newest Internet controversy — this time the leak and distribution of personal celebrity photos

See also: 5 Things Every Reddit Newbie Needs To Know

The issues do not appear to have done much to scare off investors, as noted venture capital firms Andreessen Horowitz and Sequoia Capital are reportedly involved in the round. The funding is yet another sign that the site is looking to capitalize on its massive traffic numbers. Read more...

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