Too Long; Didn't Read
The Reddit Rollercoaster Underlines the Changing Nature of Social Media. Reddit has raised $250 million in Series E funding from existing and new investors, doubling its valuation to 6 billion. This is probably the first time in its 15 years of existence that the site has made front page news for three consecutive weeks. The Securities and Exchange commission is now investigating whether the Reddit posts have breached any securities laws. It probably means that social media regulations need to be revisited, since it’s evident that opinions published on these platforms can have a high degree of influence on real-world events.