Reddit to double employees after raising $250 million

Illustration by Alex Castro / The Verge

Reddit will double the number of employees it has over the course of this year to around 1,400 after raising $250 million in a new funding round, the company has announced. Reddit currently has around 700 employees globally. Over 600 are based in the US, according to CNBC, where it has offices in San Francisco, New York, LA, and Chicago.

The announcement of the new funding round comes as the site’s r/WallStreetBets subreddit gained widespread attention for its role in increasing the share prices of GameStop, AMC, and other companies. Redditors organized to purchase shares in certain companies en-masse, turbocharging their stock prices at the expense of short-selling hedge funds. As of last week the Securities and Exchange commission is…

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