Snoop Dogg Now Owns Part of Reddit

Reddit announced today that it raised $50 million in its latest round of fundraising from a host of big-name venture capitalists: Peter Thiel, Marc Andreesen, and Snooooooooooooooop.

Rapper Snoop Dogg was listed as a participant in the massive round of fundraising, along with the VCs one would normally expect to see invest in an internet property (San Altman, Alfred Lin, and Josh Kushner, among others). And also, Jared Leto is an investor, too? Not a bad move, guys.

It is unclear how big Snoop’s share is in Reddit, but given that the site now has a $500 million valuation thanks to this round, it’s safe to say that Snoop just went from wealthy to really wealthy. (The investors also did promise to somehow give 10% of their shares to Redditors, though according to Reddit’s founders, “we’re going to need to figure out a bunch of details to make it work, but we’re hopeful.”)

Snoop, an avid Redditor, is known to randomly appear in threads that have nothing to do with him to do things like interact with fans, say hello to Will Ferrell, interrupt a Q&A with the New York Times, and ask Ron Paul to smoke weed with him.

We still don’t know why Jared Leto is now an investor in Reddit.

[Reddit]
[Image via Denis Filatov / Shutterstock.com]

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