Reddit Value at $3B After $300M in Finance Led by Tencent

Mae Love
February 14, 2019

Last week reports said that Tencent would be investing $150m (£115m) into the platform. Reddit is ranked among the most visited U.S. websites, and has more than 138,000 "communities" for discussions on various topics. Huffman said that Reddit was also trying to become "a friendly home for users and brands alike", which involved stepping up its fight against abuse on its platform.

The investment from a China-based company, news of which started making the rounds around five days ago, quickly ignited censorship fears on Reddit, which calls itself the "front page of the internet".

Along with sites like Facebook and Twitter, Reddit is inaccessible in China as part of the country's Great Firewall.

The Chinese government uses a number of technical measures to block foreign Internet companies. Ever since it was rumored that Tencent was going to invest in Reddit, a number of Reddit users posted images of the Tiananmen Square Massacre.

The TechCrunch Web site reported about the funding round last week, but that information was unconfirmed until now. Search terms such as "six four" - a reference to the date of the event 4 June and "never forget" when typed into Chinese search engines have not returned any results.

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Reddit Chief Executive Officer Steve Huffman told CNBC today that "one of the things that's been very important to us is that we can now assure advertisers that you are going to have a positive experience on Reddit and potentially even a new experience, a new way of connecting with customers".

Still, the level of Tencent's proposed funding falls far short of full control.

Tencent, however, is not the first Chinese tech giant that laid eyes upon Reddit. Mr Reynolds added that Reddit "simply isn't on the radar of censors".

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