Reddit is blocked in China, but that isn’t stopping one of the country’s largest technology firms, Tencent from making a massive investment to help keep the “Internet’s front page,” moving full speed ahead.
Reddit is said to be raising between $150 million and $300 million as part of a Series D fundraising round led by Tencent. The round is being raised at a pre-money valuation of $2.7 billion, and depending on how much Reddit raises, could push the company past a $3 billion valuation, according to TechCrunch, which first reported news of the fundraising round.
Reddit users were quick to point out the irony of Tencent and Reddit joining forces.
trustyhardware11 points2 days ago
If you think Facebook & its subsidiaries are a giant surveillance engine, you should think reddit is one too. Don't forget it has #1 traffic in US.