If you thought White Guys Connect was the only online venture backed by Snoop Dogg, think again. The King of Long beach is now a Silicon Valley investor after joining Jared Leto and Paypal co-founder Peter Thiel to pour $50 million into the expansion of Reddit.  Snoop’s contribution is set to see the forum hire more staff, extend its mobile site and develop better tools for moderation. The site, which hierarchises content based on user up or down votes is now valued at an estimated $500 million and receives 133 million hits per month. Reddit’s investor’s have announced plans to dedicate 10% of company shares to forum users as a sign of appreciation for the content they have generated for the site since its inception in 2005. If you’re wondering how to get in on a slice of that online entrepreneurial action, why not swing by Snoop’s Reddit thread, now among the site’s 20 most popular forums.

[Via.]

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