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 Holdings was among the investors in the round, which values the link-sharing website at $3 billion. A report last week by technology website TechCrunch signaled 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.
Ad Age – February 11, 2019