Tencent makes $150 million investment in Reddit prompting censorship concerns. San Francisco-based Reddit raised an total of $300 million at a $3 billion valuation, with investors including Andreessen Horowitz, Fidelity, Sequoia, and Tencent, the organization’s CEO stated.
Reddit said it wanted to utilize the cash for worldwide development and to upgrade its computerized advertisement stage to more readily contend in a market where Facebook and Google presently take in the greater part of the income.
News of Tencent becoming tied up with the famous social news site, which is prohibited in China, incited worries by a few clients that the stage could be powerless against the sort of online restriction that happens in that nation.
Reddit clients dissented, some presenting pictures known on be prohibited in China, like animation character ‘Winnie the Pooh.’ Pictures of the storybook bear were allegedly prohibited online in China after bloggers utilized them to speak to President Xi Jinping in posts.
Reddit was co-founded by Alexis Ohanian, spouse of tennis whiz Serena Williams. Reddit is positioned among the most visited US sites, and has more than 138,000 ‘communities’ for discourses on different themes.
The site flaunts that, by and large, in excess of 330 million individuals use it every month, battling that half of those clients run in age from 18 to 24 years old. Reddit is likewise known for ask-me-anything (AMA) sessions with surely understood individuals, like Microsoft co-founder Bill Gates and former US president Barack Obama.
Tencent has put resources into a wide cluster of organizations, including Tesla, Snapchat-parent Snap, and Epic Games – the producer of prevalent computer game Fortnite.