Tencent reportedly set to invest 150 million US dollars in Reddit

Screenshot of Reddit post

Screenshot of Reddit post

Founded in 2005 by two University of Virginia students, Reddit has continued to attract a loyal user base despite its relatively simple format, where users are invited to discuss just about any topic on more than 150,000 "sub-Reddit" forums.

Some media later suggested that the investment created "a great deal of confusion", as Reddit is now blocked in China.

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.

"The Front Page of the Internet", or better known as Reddit has done quite well this investment round as Reddit.inc has said they are pleased to announced that they have managed to raise an additional $300 million in funding.

Chinese internet giant Tencent Holdings Ltd. was among the investors in the round, which values the link-sharing website at $3 billion. More popular content is surfaced to the top.

Tencent operates online games and popular WeChat social media service. Huffman said that Reddit was also trying to become "a friendly home for users and brands alike", which involved stepping up its fight against abuse on its platform.

The TechCrunch website reported the funding round last week, but that information was unconfirmed until now. Chinese authorities also blocked references to the date of Tiananmen Square Massacre such as "4 June" and "six four".

Winnie the Pooh's image is banned in China because users have mocked the character's resemblance to China's President Xi Jinping.

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.

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.

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