The company raised $200 million in a combination of Series B and Series C venture funding led by Andreessen Horowitz and Sequoia Capital on July 31, 2017, putting the company's pre-money valuation at $1.6 billion. Coatue Management, Vy Capital, Advance Publications, Sam Altman, Alrai Capital, Craft Ventures, Mark VC, Ronald Conway, Bracket Ventures Management and Fidelity Investments also participated in the round. The funding will be used to launch several new unspecified product and business plans including redesigning the company's homepage and allowing user-uploaded videos. Taurus Ventures also participated.
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