Legendary rapper Snoop Dogg has been named the new co-owner of Reddit, an entertainment, social networking service and news website. Aside from participating in the popular “Ask Me Anything” Q+A sessions and moderating for the site’s forum, Snoop, real name Calvin Broadus, Jr., has joined other Hollywood A-listers in funding the site.
Other investors include Oscar-winning actor Jared Leto, Netscape co-founder Marc Andreessen and Paypal co-founder Peter Thiel. The San Francisco based site announced it secured $50 million dollars in funding, and the 42 year old rapper was named amongst the investors. Reddit, despite its growing popularity, has been operating on a shoestring budget. But with the new funding, the site can now add staff and expand the community management team.
Reddit, founded by University of Virginia roommates Steve Huffman and Alexis Ohanian, allows registered community members can submit content, such as text posts or direct links. Conde Nast Publications acquired the site in October 2006.