Quora raises US$80m in Series C round

9 Apr 2014

Q&A website Quora has raised US$80m in a Series C funding round from Tiger Global Management that values the company at US$900m.

The investment will reportedly pave the way forward for Quora to remain independent for the long term, as well as give it the room it needs to focus on building a revenue channel in the mid-term.

Despite the investment, the company has no plans to go public as it has no current revenue stream.

Quora had raised US$50m in 2012, valuing it at US$400m at the time, and it is estimated that 40pc of Quora’s traffic is derived from mobile.

Quora’s founders are former Facebook CTO Adam D’Angelo and former Facebook engineer Charlie Cheever.

Last year, Tiger Global Management bought Irishman Paul Kenny’s Middle East e-commerce site Cobone.com for around US$40m.

Q&A image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years