Snoop Dogg and Jared Leto buy stakes in Reddit

Online community's latest round of fund-raising sees musicians join Silicon Valley investors

Snoop Dogg and 30 Seconds To Mars frontman Jared Leto have been revealed to be among the latest investors in Reddit.

The community website revealed on Tuesday (September 30) that they have made $50m in their latest round of fund-raising with regular Silicon Valley investors including Sam Atlman, Ron Conway and Peter Theil among the list of financial backers.

Also included on the list are Snoop Dogg (real name Calvin Broadus) and Oscar winner Leto. They join Paul Buchheit, Jessica Livingston, Kevin and Julia Hartz, Mariam Naficy, Josh Kushner and Yishan Wong. Reddit state that they will use the investment to hire more staff for product development, expand their community management team and improve moderation and community tools among other improvements.

The Reddit investment comes in the same week that Snoop Dogg promised to play a concert in Alaska – if voters in the US state choose to legalise recreational use of marijuana.