Reddit is rumored to absorb funds from Tencent
Posted On February 12, 2019
Tencent was rumored to have invested in Reddit, which is known as the most popular social news and discussion forum in the USA, with a $150 million. The news sparked concern among Redditors worrying about the potential purge that might be enforced to the freedom of speech platform, as Tencent always abides by administrative clean-up decisions. However, some argue that such ‘minor’ financial fund will entitle Tencent to zero control. Local specialists see it rather a self-rescue approach within the traffic battle against ByteDance, which has seen a booming growth over the past two years and left Tencent a competitive rival.