Registered users can save articles to their personal articles list. Login here or sign up here

China’s Tencent invests in Reddit, sparking free speech protests

Reddit users concerned about censorship.

Reddit said Monday that it raised $300 million from investors. It was one backer, in particular, that drew condemnation from members of Reddit’s online community.

Chinese internet giant Tencent was among the investors in the round, which values the link-sharing website at $3 billion. A report last week by technology website TechCrunch signalled Tencent’s interest.

In the following days, users posted links to Reddit depicting imagery banned by Chinese censors. They include video of the Tiananmen Square protest and pictures comparing President Xi Jinping to the portly Winnie the Pooh. Reddit users swarmed several of the submissions, pushing them to the list of most popular posts.

Steve Huffman, the chief executive officer of Reddit, said Tencent’s expertise in video games is part of what drew the two companies together. “Video games are one category that’s really popular on Reddit,” Huffman told CNBC.

Spokeswomen for Reddit and Tencent declined to comment on the outcry from users. Andreessen Horowitz, Fidelity Investments and Sequoia Capital were among the other investors in the round.

Reddit has an outspoken community that has used the company’s own website to protest against its actions in the past. The site has long been banned in China, according to researcher GreatFire.org. The free speech campaign by Reddit users may ensure that remains the case for some time.

© 2019 Bloomberg L.P

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2