Reddit says it’s raising $410 million in funding at a $10 billion valuation

The social site’s valuation was $6 billion in February, when it raised $250 million.

The new funding, from Fidelity Investments, is part of a funding round that Reddit said was likely to reach as much as $700 million.

The site has more than 52 million active users and over 100,000 communities, according to Reddit’s website.