How This NFT Project Raised $54 M With Backing From A Reddit Co-Founder
Popular NFT collection Doodles raised $54 million in a recent equity funding, per a report from Forbes. The funding round was led by Reddit co-founder Alexis Ohanian, a long-time Doodles holder, via his venture capital firm Seven Seven Six. Related Reading: Algorand Revealed Investments Worth $35M In Troubled Crypto Lender Hodlnaut The report claims that […]
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Earlier today, Reddit posted to its blog and announced the "Reddit notes," the name of the long-awaited Reddit cryptocurrency. Reddit recently closed a $50 million USD funding round led by Sam Altman, Marc Andreessen of Andreessen Horowitz, and Alfred Lin of Sequoia Capital. Soon thereafter, Reddit announced their plans to "share" 10% of the equity raised with the loyal users of Reddit, without whom the funds could not have been raised. To help with their new cryptocurrency, Reddit posted a job ad for a "cryptocurrency engineer" and quickly hired BitPay developer Ryan Charles back in....
Author's note: The following article has been edited by the author to reflect an unbiased view of Yishan Wong's personal feelings toward bitcoin. The original article accused Wong of being "Anti-Bitcoin," an assumption that is incorrect according to outside sources. Wong is not anti-bitcoin, and the author apologizes for his original use of words. Yishan Wong, the previous CEO of Reddit, resigned from his position following two and a half years of work. Shortly following the announcement, Reddit co-founder Alexis Ohanian returned to the company as executive chairman. While Wong steered....
Reddit just revealed their plans to create a cryptocurrency as part of a widely-supported move to share 10% of the equity raised with Reddit users. Hours ago, Sam Altman, a well known venture capitalist, announced that he was investing in reddit personally, not through Y Combinator. Also joining Sam in the $50 million USD fund raise for Reddit are Marc Andreesen of Andreesen Horowitz and Alfred Lin of Sequoia Capital. Sam Altman worked alongside Reddit's cofounders, Steve Huffman and Alexis Ohanian, nearly a decade ago when they were in the same Y Combinator's start-up batch. Editor's....
Furor over management decisions, an abrupt CEO exit, a rising competitor. The last few months haven't been kind to Reddit, the social networking giant that raised $50m in new funding in September from an A-list cast of VC firms including Andreessen Horowitz and Sequoia Capital alongside angel investors including Snoop Dogg and Peter Thiel. However, if one former employee and bitcoin developer succeeds on his vision, Reddit's biggest challenge could be a decentralized, bitcoin-based alternative. Called DATT (short for Decentralize All the Things), the still-in-development social network....
Reddit is the 9th most visited site in the US and ranks 36th for the entire world. Incorporating Bitcoin into Reddit would expose millions of people to the nascent technology. In the past week, Reddit Crypto Engineer Ryan Charles debuted on the Reddit Blog. The blog announced plans to integrate Reddit with Bitcoin's blockchain technology simultaneously. Recently, Reddit's CEO, Yishan Wong, resigned. Alex Ohanian, Reddit co-founder, returned as executive chairman. With that return, Reddit announced the consideration of creating its own cryptocurrency. Shares would be given to the community,....