Quora raises US$80m in Series C round

9 Apr 2014148 Views

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.

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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 an award-winning technology journalist who served as editor of Siliconrepublic.com for 17 years.

editorial@siliconrepublic.com