Three dead, two hospitalized, following collision in Fredericton: police
Three people have died and two have been hospitalized after a speeding car struck a tree and landed on another vehicle in Fredericton Sunday morning.
Reddit will raise up to US$700 million in a fundraising round led by Fidelity Management, the social media network said on Thursday, cashing in on a jump in its influence in the financial world to triple its valuation to over US$10 billion.
The company said it had already raised $410 million from Fidelity in its second funding round since the start of the year when small-time traders gathered on its platform in their battle against Wall Street institutions.
The traders, initially focused on Reddit's WallStreetBets forum but now spread across discussion boards, have changed how Wall Street analysts operate, causing major losses for some funds and powering huge gains in the shares of companies including GameStop and AMC.
On the back of the trading frenzy, Reddit's value had already doubled to $6 billion in February from a year ago.
The San Francisco-based company was founded in 2005 by Chief Executive Steve Huffman, entrepreneur Alexis Ohanian and the late Internet activist Aaron Swartz.
While Reddit has been a well-known internet name for years, attracting millions of experts and enthusiasts to its niche discussion groups, it has trailed behind other major social media sites in terms of its development as a business.
Although a hefty sum, the $10 billion valuation pales in comparison to Twitter Inc's $52 billion or the $1 trillion value of Facebook Inc, both founded around the same time as Reddit.
As of January, Reddit had more than 52 million daily active users and over a 100,000 communities, dwarfed by Facebook's nearly 2 billion daily active users in June or Twitter's 206 million monetizable daily active users, a term for users who see the ads placed on their platforms.
Reddit topped $100 million in advertising revenue for the first time in the second quarter, an almost threefold jump from the same period last year.
Its investors include venture capital firm Andreessen Horowitz, funds such as Sequoia Capital, Tencent Holdings and rap superstar Snoop Dogg.
Three people have died and two have been hospitalized after a speeding car struck a tree and landed on another vehicle in Fredericton Sunday morning.
Amid scientists' warnings that nations need to transition away from fossil fuels to limit climate change, Canadians are still lukewarm on electric vehicles, according to a study conducted by Nanos Research for CTV News.
A Montreal man is warning Tesla drivers about using the Smart Summon feature after his vehicle hit another in a parking lot.
Madonna put on a free concert on Copacabana beach Saturday night, turning Rio de Janeiro's vast stretch of sand into an enormous dance floor teeming with a multitude of her fans.
One person was killed and 23 others were injured when a bus crashed early Sunday on Interstate 95 in northern Maryland, police said.
The Maple Leafs battled back from a 3-1 series deficit against the Boston Bruins with consecutive 2-1 victories - including one that required extra time - in their first-round playoff series to push the club's Original Six rival to the limit before suffering a devastating Game 7 overtime loss.
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Eighty-two-year-old Susan Neufeldt and 90-year-old Ulrich Richter are no spring chickens, but their love blossomed over the weekend with their wedding at Pine View Manor just outside of Rosthern.
A mother goose and her goslings caused a bit of a traffic jam on a busy stretch of the Trans-Canada Highway near Vancouver Saturday.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.