Tencent investment in Reddit sparks censorship worry, United States News & Top Stories

14 February, 2019, 07:10 | Author: Eric Barnett
  • Reddit Raises $300 Million At $3 Billion Valuation, With Tencent Among Backers

Reddit has confirmed that it has raised $150 million from Tencent and $150 million in Series D funding at a $2.7 billion pre-money valuation and a $3 billion post-money valuation, according to TechCrunch.

In the past, Chinese authorities have blocked information related to the crackdown against protesters in Beijing's Tiananmen Square on the anniversary of the event.

Reddit said it planned to use the money for worldwide expansion and to enhance its digital advertising platform to better compete in a market where Facebook and Google now take in most of the revenue.

Executives will use the new funding to bolster the capabilities and functionality of the company's platform as they seek to make it more friendly to advertisers.

The announcement prompted criticism of Reddit for linking itself with a company from China, where the ruling Communist Party enforces extensive online censorship.

Huffman said Tencent has invested in lots of video games companies, and video games are a popular category on Reddit, a social news and media aggregation company based in San Francisco, Northern California.


In the following days, users posted links to Reddit depicting imagery banned by Chinese censors.

Winnie the Pooh has also been blocked at times on Chinese social media sites as bloggers compare the cartoon character to the country's President Xi Jinping.

Reddit was co-founded by Mr Alexis Ohanian, husband of tennis superstar Serena Williams.

Reddit has been on a roll lately, growing its audience to 330 million monthly active users generating 14 billion page views in 2018. Reddit is ranked among the most visited United States websites and has more than 138,000 "communities" for discussions on various topics.

Reddit is also known for "ask me anything" sessions with well-known people such as Microsoft co-founder Bill Gates and former USA president Barack Obama.

Recommended:

  • Asensio nets late Real victor  as Ajax left to rue VAR decision

    Asensio nets late Real victor as Ajax left to rue VAR decision

    The controversial decision meant Real went in at half-time on level terms with all three goals coming in the second half. I think it's brilliant how he carries out his job as leader, which isn't an easy one".
    Watch The Latest Nintendo Direct Here

    Watch The Latest Nintendo Direct Here

    Tomorrow's Nintendo Direct presentation will last around 35 minutes and feature new details on Fire Emblem: Three Houses . Head down to the comments section and let us know!

    F1 in 2019: Max Verstappen debuts deceptive Red Bull RB15

    The RB15 will run for the first time at British Grand Prix venue Silverstone today (Wednesday) as part of a filming day. Red Bull has offered the first glimpse of its 2019 F1 auto , the RB15, in an eye-catching one-off livery.
  • 'Breaking Bad' Movie Sequel Is Reportedly Coming to AMC and Netflix

    'Breaking Bad' Movie Sequel Is Reportedly Coming to AMC and Netflix

    But Netflix and Breaking Bad have a long history together. The Breaking Bad movie is reportedly headed to Netflix . That show has already been renewed for a fifth season.
    Westbrook salutes teammates after triple-double record

    Westbrook salutes teammates after triple-double record

    Westbrook had five assists heading into the fourth, and after a rest, he re-entered the game with 9:36 remaining. If the Thunder get high-level play from their two All-Stars they should be able to walk away with a win.
    Broncos have agreement to trade for Ravens quarterback Joe Flacco

    Broncos have agreement to trade for Ravens quarterback Joe Flacco

    Schefter noted that, because of this, teams are now prohibited from commenting on the terms of the deal. Flacco is 34 years old and coming off a season in which he lost his starting job to Lamar Jackson .
  • Five found shot to death in Texas home

    Five found shot to death in Texas home

    The victims' bodies have been sent to a medical examiner for further investigation. A shooting at a home in East Texas left five people dead on Monday.
    Texas Children Found Locked in Dog Cage, Covered In Feces

    Texas Children Found Locked in Dog Cage, Covered In Feces

    The newspaper reported that deputies were talking to a woman and an injured man when they heard children inside the home. Deputies fed the kids and gave them water before taking them to the hospital, according to the sheriff's office.
    Lady Gaga Tweets Her Support of Cardi B's Grammys Win

    Lady Gaga Tweets Her Support of Cardi B's Grammys Win

    Rapper Cardi B's performance at the 2019 Grammys was a show-stopper, but it didn't exactly go off without a hitch. He started out by writing on Twitter, "I don't never wanna be propped up by tearing somebody else down".
  • United Kingdom  premier wants more time to solve Brexit impasse

    United Kingdom premier wants more time to solve Brexit impasse

    Asked whether the comments reflect Government policy, Brexit Secretary Stephen Barclay told BBC Radio 4's Today programme: 'No. The Brexit uncertainty is beginning to be felt across the economy.
    Police officer gunned down in Queens

    Police officer gunned down in Queens

    Officer Miosotis Familia, 48, was writing in her notebook when ex-convict Alexander Bonds strode up and shot her through a window. An elected delegate with the 102nd detective squad, Det. "We miss him, we're going to miss him.
    'Little to no change' in North Korean capabilities: United States  commander

    'Little to no change' in North Korean capabilities: United States commander

    North Korea remains the No. 1 immediate threat to American forces in the Indo-Pacific Command area of operations, said Adm. "They were paying about $500 million for $5 billion worth of protection", Trump said.


Popular

Netanyahu meets Omani FM, hints other Arab states warming to Israel
Transatlantic cooperation was necessary to resolve problems in the Middle East, Polish Foreign Minister Jacek Czaputowicz said. And how they always get made when we say this? "Iran isn't behaving like a normal country".

Red Bull unveil new Honda-powered F1 auto ahead of 2019 campaign
Ricciardo has left Red Bull to join Renault with Verstappen to be partnered by young Frenchman Pierre Gasly . Both drivers are at Silverstone today for the first run of the new auto .

Assassin's Creed III Remastered outed for Switch again
It seems as though previous rumors surrounding Assassin's Creed 3's remaster hitting the Switch are so far unfounded. Additionally, it is seemingly scheduled to release on the same day as its counterparts on March 29.

Walter Jones, Veteran US Congressman From North Carolina, Dies at 76
No weapons of mass destruction were found in Iraq, and it was later revealed that the war was justified using faulty information. Walter Jones , Jr. turned from pro-war to an antiwar firebrand after he discovered how Administrations lie us into war.

Russian, Chinese lasers threaten USA satellites: Pentagon
Hua said that if the U.S. is serious about space security, it should work with China to control arms development. According to Washington's intelligence, North Korea and Iran are also developing their space capabilities.

Lloris urges Tottenham supporters to create special Wembley atmosphere
We need to improve the team performance compared to yesterday and we need the stadium to help us. First of all we need to keep our place in the top four and then maybe more.

NASA Declares Its Longest-Running Mars Rover Dead After 15 Years
NASA is saying farewell to its Opportunity rover on Mars after having been out of communication with the robot for about a year. In the end, Opportunity set endurance and distance records that are years, if not decades, from being broken.

Read Michelle Obama's Hilarious Text Exchange With Her Mom
And although the music industry treated her like a rock star , Marian Robinson wasn't so impressed. Her daughter evidently wasn't stung by the remark, joking, "I am a real star ... by the way".

MLB Insider Believes Bryce Harper Is Down To 2 Teams
The Dodgers, Padres, White Sox, Yankees, and Cubs have also been linked to Harper this offseason. However, it sounds like Nightengale thinks the Giants have the edge. "It's a two-team race here".

George Clooney Compared The Hounding Of Meghan Markle To Diana's Death
Meghan laughed as a relative of one of the children showed her a photo on her phone, zooming in on the image to get a closer look. Markle this weekend shared "devastating" details of a letter sent to him by his daughter last summer with the Mail on Sunday .