Tencent reportedly set to invest 150 million USA dollars in Reddit

Reddit Raises $300 Million At $3 Billion Valuation, With Tencent Among Backers

Users protest after Tencent invests in Reddit

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.

Tencent invested $150 million, joining past Reddit investors like Sequoia, Fidelity, Tacit and Snoop Dogg, which were part of this funding round as well. Some are suggesting that Tencent's investment may see Reddit further censoring user content.

The 14-year-old social platform has roughly 330 million monthly active users and had an average of 1 billion views of natively hosted video last year, thanks to a recent redesign, according to the company.

The amount Tencent is investing in Reddit.

Much of that criticism has come from Reddit users.

CNBC followed up Monday morning with an interview with Reddit's CEO Steve Huffman, who told the publication that his company was continuing to build out its ads business. The Reddit platform allows users to share links on any conceivable subject, which are then up-or down-voted, meaning the most popular content surfaces to the top and is more prominent.

"Given that reddit just took a $150 million investment from a Chinese censorship powerhouse, I thought it would be nice to post this picture of "Tank Man" at Tienanmen [sic] Square before our new glorious overlords decide we can not post it anymore", wrote user FreeSpeechWarrior. Chinese tech giant Tencent, the parent company of China's largest social network WeChat, is the lead investor, contributing half of the total financing.

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.

Images of the storybook bear were reportedly banned online in China after bloggers used them to represent Chinese President Xi Jinping in posts.

Spokeswomen for Reddit and Tencent declined to comment on the outcry from users.

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