Reddit has raised a boatload of new investment money–$200 million, to be exact. This, according to Recode, puts the company’s valuation at $1.8 billion.
It’s all part of Reddit’s attempt to revitalize itself. Known as a haven for trolls and other niche online-only communities, the link-sharing community site has plans to build out new products and make itself more amenable to advertisers. A few months ago it revamped its ad platform, and it seems to have even bigger plans.
One tidbit that stands out is Reddit’s plan to completely redesign its site. Recode writes:
[T]he company is literally rewriting all of its code, some of which is more than a decade old. An early version of the new design, which we saw during our interview, looks similar to Facebook’s News Feed or Twitter’s Timeline: A never-ending feed of content broken up into “cards” with more visuals to lure people into the conversations hidden underneath.
Perhaps this new look will help Reddit welcome more people. Or perhaps it will remain a big place for online fringe communities. You can read Recode‘s write-up here.