Reddit plans to raise up to $700 million in a new round of funding that will value the company at $10 billion, the California-based social news aggregation, web content rating and discussion website said in a statement on Thursday.
The new round, called series F, will be led by Fidelity Management and Research Company and Reddit’s other existing investors.
“We are optimistic and encouraged that not only are we resourced and capitalised to continue on our growth path, but also that our investors support our vision and want to deepen their stakes in our future,” the company said.
“We are committed to our mission of providing community and belonging to everyone and look forward to continuing on our journey with the support of our users, employees, clients and investors,” it said.
This round will bring the total fundraising volume for the year to nearly $1bn.
Founded in 2005, Reddit raised $250m in February, series E, that valued the company at $6bn.
The company said it is making strategic investments to grow its business, expand internationally, innovate new ways to foster community and bolster its advertising offerings and capabilities.
“These efforts require us to grow our teams and make smart bets on how to make Reddit better, faster, easier to use and more empowering for communities,” the company said.
“We are also evolving as a business, maturing and building the operational structures that will help propel us into the future with transparency, values and integrity,” it said.
This year Reddit posted its first $100m advertising revenue quarter (April-June period), representing a 192 per cent increase compared with the same period last year.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
