Published: Thu, February 14, 2019
Economy | By

Reddit users fear Chinese censorship following Tencent investment

Reddit users fear Chinese censorship following Tencent investment

Tencent Holdings Ltd. has led a $300 million funding round in the US forum site Reddit Inc., following its 2017 investment in another rival Snap Inc.

It is ranked among the most visited US Web sites, and has more than 138,000 "communities" for discussions on various topics.

"Reddit is now funded by Chinese investors, so let's remember that President Xi Jinping is so insecure in a meme that he banned Winnie the Pooh nationwide", wrote Redditor kproxurworld, referring to China's ban on the A. A. Milne character after people claimed the character held a physical resemblance to Xi Jinping.

According to Bloomberg, American news feed website Reddit received $300 million in total in a new round of financing. "Tencent has invested in hundreds of companies and there's been little involvement or interest from China's state apparatus", said Reynolds via BBC.

The site boasts that, on average, more than 330 million people use it each month, contending that half of those users range in age from 18 to 24 years old. More popular content is surfaced to the top. Chinese authorities also blocked references to the date of Tiananmen Square Massacre such as "4 June" and "six four".


Tencent's leading role in the round led to some backlash among Reddit's audience in recent days, with some users concerned that the influx of Chinese money was incompatible with Reddit's commitment to free speech.

The Chinese government uses a number of technical measures to block foreign Internet companies.

Reddit CEO Steve Huffman told CNBC news outlet that Tencent invested 150 million dollars in the latest round of fundraising, along with other investors.

Tencent owns the all-in-one messaging app WeChat and is considered as one of the biggest gaming company in the world thanks to the ownership of the popular "League of Legends".

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