Title: Reddit secures $50m
in fundraising from investors including Snoop Dogg
This article is about the social
news platform called Reddit, and it addresses the fact that Reddit has secured
$50 million (£31 million) in funding from Venture Capitalists and investors.
Amongst these investors there are names like the actor Jared Leto and Snoop
Dogg. The fundraising was achieved after weeks from banning the “The Fappening”
(A community which was dedicated to posting the nude celebrities photo after
Reddit was accused of being slow to take action). The images were originally
posted on 4chan but The Fappening had provided a home, which attracted more
than 250 million views in days.
Key facts:
Ø Social
news platform Reddit has secured $50m (£31m) in funding from venture
capitalists and investors including actor Jared Leto and hip-hop star Snoop
Dogg, and is preparing to give 10% of the new shares back to the website’s
users.
In my opinion, I believe that
this shows how institutions have attempted to speed up their response times in crises
in order to prevent them happening again. Also, it presents how celebrities are
also backing and supporting this institution.
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