Their investment valued the company at $500 million then. The massive funding haul wasn’t the only big news to come out of Reddit today. The company raised $300 million, led by a $150 million investment from Tencent Holding Ltd. . He’s also shown something of an entrepreneurial streak in recent years, investing in everything from Reddit … Rapper Snoop Dogg performs on stage during a concert in Arendal, some 155 miles south of Oslo, June 28, 2012. Snoop Dogg is the stage name of Calvin Broadus, Jr. No, not that green. Will shares be awarded to top users, moderators or random users? Both stars are avid users of the site, which dubs itself "the front page of the Internet." He lives in Seattle, Washington. Snoop Dogg, the hip-hop star, Silicon Valley investor Marc Andreessen and the Oscar-winning actor Jared Leto have joined a $50m funding round for Reddit, the online discussion forum. Now, he can add another title: venture capitalist. Earlier today it was announced that Snoop Dogg's investment company, Casa Verde Capital, is one four groups that has invested a total $10 million in a … How to stream the inauguration live: All the Biden-Harris events for Inauguration Day 2021, Light up the lights: ‘The Muppet Show’ is coming to Disney+, How to stream NBA games: Live stream the NBA 2021-22 season, Barcelona live stream: How to stream Barcelona vs. In the cannabis investment community, Snoop Dogg is considered “smart money.” He has a net worth of $135 million, and is one of the key players in Casa Verde (CV) a venture capital firm focusing exclusively on the cannabis industry.. Burried among the list of Reddit investors are two stand-out names: Academy Award-winning actor Jared Leto and Calvin Broadus Jr., better known as Snoop Dogg, Snoop Lion, and Snoopzilla. Earlier that year, Snoop also invested in Robinhood, a zero-fee stock trading app that has helped push a younger generation toward small-time stock market trading. Athletic Bilbao live. He joined the Center for Investigative Reporting in 2016. While Reddit currently has $330+ million active users each month it only generates $0.30 per user per year. So what does Snoop Dogg have to do with the corporate plans? The company has done many fundraising rounds and various other mechanisms. Snoop Dogg's Marijuana Fund Is Budding After a $45 Million Capital Raise The marijuana industry is about far more than just growers, processors, distributors, and retailers. The “Jungl Julz” line by Dogg is definitely expensive, ranging between $30 and $100 a piece. 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 … In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto. "We asked him to invest, and he said yes," Sam Altman, the deal's lead broker, told The New York Times. Its curation mentality is loosely based on the old adage, "the cream rises" to the top: When people submit links, pictures and GIFs, they are then "up-voted" or "down-voted," driving some posts to the top and leaving the rest floating, lost, in cyberspace. Reddit and the investors have yet to disclose how the shares will be distributed to users: Will it be through a rewards system or arbitrarily? The Reddit deal is simply the latest VC investment by Academy Award winning actor Jared Leto and rap icon Snoop Dogg. Snoop Dogg Snoop Dogg, the hip-hop star from Long Beach, California, i s among the group of investors financing this round for Reddit. As for Snoop, his tech investing career seems to have taken off recently. One of the most well-known companies to invest in Reddit is Chinese tech giant Tencent, which invested $150 million. Reddit was incubated at Y Combinator in 2005 (the same year its current president Altman went through the program), purchased by Conde Naste in 2006, and currently has 133 million monthly active users. Wong explained that they are exploring the use of Bitcoin and other crypto-currencies to share the goods with the Reddit community. I’m very curious to see how well this actually works out. Casa Verde Capital, the investment fund co-founded by cannabis connoisseur Snoop Dogg (also known as Calvin Broadus), has closed on $100 million for its second investment … Yep, Snoop Dogg is now a part-owner of Reddit. Snoop Dogg among a group of investors in a $50 million financing round for Reddit. ... You can explore investing inflation reddit one liners, including funnies and gags. The hip-hop star from Long Beach, Calif., is among a group of investors in a $50 million financing round for Reddit, the frenetic link-sharing and discussion site, according to an announcement on Tuesday. (OK, probably not Snoopzilla.). 5. Snoop Dogg is an investor in reddit, according to the website. Although the product is still available at the Ontario Cannabis Store, … Snoop Dogg is putting his money behind the popular social networking site Reddit.com, the company announced Tuesday (Sept. 30). Nor is Leto’s involvement completely unexpected. Burried among the list of Reddit investors are two stand-out names: Academy Award-winning actor … During his Ask Me Anything session—in which users ask public figures questions on Reddit—Altman said: "I've always thought communities like Reddit should mostly own themselves, and that it's time for some innovation around corporate structure here. Leto has dipped his toe into the tech waters a few times before. Hip-hop star Snoop Dogg, a fan-favorite on Reddit, is among a new group of high profile investors raising a new $50 million round of financing for the link-sharing and discussion site. After Parler Ban, Rein in Big Tech Now or Cease Being Free Citizens. In a blog post on Tuesday, social news site Reddit announced that it has secured a $50 million round of venture capital funding. r/Snoopdogg: If it's related to tha Dogg, it belongs here. The rapper has been an active participant on the site for years, using the handle Here_Comes_The_King and posting comments on a near daily basis. You have 4 free articles remaining this month, Sign-up to our daily newsletter for more articles like this + access to 5 extra articles. Reddit, the self-appointed "front page of the Internet," is getting a huge surge of green from Snoop Dogg. Not only has he done numerous “Ask Me Anything” (AMA) question-and-answer sessions with redditors, but he’s also a moderator of the site’s r/trees community of marijuana enthusiasts. There’s Sam Atlman, the president of legendary startup incubator Y Combinator (where Reddit first got its start), angel investor/San Francisco political puppet-master Ron Conway, and libertarian sea-steading college-hater Peter Theil. One can only hope that, if Snoop-infused Reddit does issue a cryptocurrency, it’ll be called Snoop Doggecoin. The site said it … Other investors included Sequoia Capital, Fidelity, Tacit Capital, and Snoop Dogg. But the new wealth will also be spread widely across the Redditverse. Reddit, the self-appointed "front page of the Internet," is getting a huge surge of green from Snoop Dogg. Photo by Jørund Føreland Pedersen/Wikimedia Commons (CC BY-SA 3.0). Before investing in Reddit, the rapper had developed "Snoopify," a mobile app that enables ganja enthusiasts to easily add virtual "stickers" of pot leaves and joints to their photos. It's estimated that about 133 million people visit the site monthly. The social networking site Reddit recently announced it has obtained $50 million in outside funding, and disclosed its lead investor as Sam Altman, along with Alfred Lin of Sequoia Capital and Marc Andreessen of Andreessen Horowitz. The first endorsement that fell apart was Snoop Dogg's Leafs by Snoop (LBS) brand back in 2016. “I … Well, Snoop is a "Reddit superstar," according to an interview with Altman in the New York Times. The investment by Snoop will likely prove to be a wise one. Snoop Dogg and Jared Leto are among the high profile names throwing their money behind Reddit. But issuing virtual currency-based shares to community members appears to be something Reddit is serious about. Reddit Investment. No, not that green. Snoop Dogg has previously been an early-stage angel investor in startups including Eaze, a marijuana delivery business in California, Reddit and commission-free trading app Robinhood. A new sports conversation app called GameOn has secured an investment from Snoop Dogg, TechCrunch has learned. Reddit is the largest web link aggregator on the web. In spite of all that, Snopp Dogg’s startup was able to build a $200 million portfolio. Earlier this year, he even dropped in on Will Ferrell’s AMA and jokingly asked the actor to play cowbell on his next record. How this currency might be used remains to be seen. Reddit's estimated value is now roughly $500 million. Since Reddit has operated mostly on a shoestring budget since its inception in 2005, the new investment money is an enormous boost for the site's growth. Other investments came from Sequoia, Fidelity, Tacit, and Snoop Dogg. Investors have a new plan for the site in which they they will give 10 percent of their Reddit shares to users, both to promote community ownership and as a token of gratitude for helping the site grow. In a comment on the company blog post, Reddit CEO Yishan Wong said that the company is looking to issue its own cryptocurrency: Details about the currency are currently scarce, and representatives from Reddit did not immediately respond to a request for comment. Don't forget to check out R/Snoopagrams! In June, it was announced that that he was providing funding for the human resources platform Zenefits. Snoop’s interest in Reddit isn’t anything new. Yes, Snoop loves marijuana. Given how the rapper frequently engages in random Reddit threads under the moniker Here_Comes_the_King, perhaps he'll be a successful liaison between the Reddit community and investors in the sharing scheme. Meanwhile, big-time investor Peter Thiel — who happens to be partnered in the Reddit.com investment fund with Snoop — also recently announced a major marijuana investment. Yep, Snoop Dogg is now a part-owner of Reddit. The rapper, along with PayPal co-founder Peter Thiel and actor Jared Leto, is joining a group of investors injecting $50 million into the site. Snoop Dogg has been a rapper, an actor and, more recently, a purveyor of virtual stickers. With a recent investment in Reddit, rapper and consummate weed smoker Snoop Dogg has attained the status of “ venture capitalist,” and he’s just getting started. Wong added that "this plan could totally fail," but even if it does, investors are confident that the shares will reach people "somehow.". To continue reading login or create an account. They plan on giving ten percent of the money from investing to users on the site, possibly in the form of a useable currency. He also helped lunch a pair of tech startups: digitial media marketing company The Hive and concert streaming service VyRT. Rapper Snoop Dogg, actor Jared Leto and Paypal co-founder Peter Thiel are among the famous names investing in social news site Reddit. In October 2014, Reddit announced that it received $50 million from new investors with Snoop Dogg being one of them. Conforme The New York Times, Snoop Dogg’s participation was particularly meaningful for Reddit’s users. Read them and you will understand what jokes are funny? ", Investors aren't just distributing cash money to dozens of anonymous users, though. The list of funders reads like a who’s who of Silicon Valley moneymen. Or maybe it's just the first step in Snoop's growing tech empire. The actor Jared Leto, who sometimes makes angel investments, also participated. Sadly, the name Instagram is taken. Sam Altman, president of start-up investor firm Y Combinator, will be leading the shares initiative. Snoop Dogg has been working in partnership with online store King Ice to produce several signature pendants. See why nearly a quarter of a million subscribers begin their day with the Starting 5. reddit recently closed a $50 million round of outside funding, the site reported yesterday (September 30). Wong admits the details are unclear, but promises that users can expect to hear more about specifics soon. Snoop Dogg has built a long and storied career as a rapper, producer, and actor who’s proven equally comfortable working with Dr. Dre and Martha Stewart. And another speculation that the cannabis market is supposed to be worth $34 billion by the end of 2025 is another great reason for the latest investment. Earlier this month, the company posted about a job opening for a cryptocurrency engineer. The contributions from investors like Snoop might come back in a good way for Reddit users. The site then splinters into hundreds of special-interest threads dubbed "sub-Reddits," which range from general (/r/art) to ultra-niche (/r/badtaxidermy). Aaron Sankin is a former Senior Staff Writer at the Daily Dot who covered the intersection of politics, technology, online privacy, Twitter bots, and the role of dank memes in popular culture. Over the last few months, the rapper invested in Reddit, the so-called homepage to the Internet, as well as zero-fee stock trading platform Robinhood. Reddit CEO Yishan Wong explained in a blog post that the hefty investment will go toward bolstering the company's workforce (currently just 60 people), creating better moderation tools, improving the Reddit mobile app and expanding the site's technical infrastructure. 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