Reddit raises $116 million more as part of Series E round

Social networking site Reddit has raised over $116 million as part of the $250 million Series E funding round, taking the round's most recent total to $367 million. The 16-year-old company's valuation remains at $6 billion pre-money, a Reddit spokesperson told TechCrunch. Reddit is aiming to raise up to $500 million in its Series E round, as per regulatory filings.