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Reddit is looking to take a lot of money from Chinese investors raising its value to over...

By Greg S ยท 7 replies
Feb 6, 2019
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  1. Whether Reddit is the world's largest forum, a dumping ground for links to pages that nobody actually reads, or a collection of shower thoughts unapologetically shared with the world, one thing is quite certain. The site is still growing quickly.

    To help further growth, Reddit is seeking a new round of Series D funding that is being kicked off with a large influx of cash from Chinese tech company Tencent. According to sources from TechCrunch between $150 million and $300 million will be handed over to Reddit, causing its value to be placed at $2.7 billion. If Silicon Valley groups jump on to the round of funding, Reddit may even exceed the $3 billion mark.

    Despite Tencent's willingness to thrown down serious cash, Reddit is not available in China. Tencent has been having difficulties on the mobile front due to China's focus on preventing addiction to gaming. Branching out to invest in a largely North American and European site may help bring stability.

    There are now around 150,000 subreddits, individual communities each with their own theme, that span topics from the incredibly bizarre to genuinely useful. It's user base has grown to 330 million active monthly users.

    In July 2017, Reddit sought its last round of funding, obtaining $200 million. Valuations were set at $1.8 billion. Since Conde Nast purchased the site in 2006, Reddit has garnered $250 million. Following the latest round of funding, Reddit's total fund raising could reach $550 million.

    Permalink to story.

  2. trparky

    trparky TS Evangelist Posts: 534   +426

    But why China? If there's a country that I wouldn't touch with even with someone else's ten foot pole it would be China. That and Russia.
    Clamyboy74 likes this.
  3. VitalyT

    VitalyT Russ-Puss Posts: 4,476   +3,035

    Facebook and Twitter had a fugly baby, so they called it Reddit. They added some categories to it, but it remained as ugly, grew into a jatskiy (just another trash). If you discount the crowd visiting it because they are, well, mad, it will be worth zilch. It is like a ginormous trash bin (note - categorised trash), a billboard for those who wants to publish trash, and those who come to read it and trash it even further. If they really make money, there is something wrong with this world!
  4. Wow.

    Show me on the doll where Reddit hurt you.
  5. VitalyT

    VitalyT Russ-Puss Posts: 4,476   +3,035

    It was a raggedy one, with pins. Remote therapy, they call it.
  6. kira setsu

    kira setsu TS Addict Posts: 135   +114

    Why is it always tencent?

    do these companies not realize this is a shady corporation.
    Clamyboy74 likes this.
  7. psycros

    psycros TS Evangelist Posts: 2,712   +2,507

    LOL, looks like someone not only doesn't know their tech history (Reddit predates Twitter) but apparently also hates any exchange of thought online that isn't run by a spying megacorp. Or perhaps Reddit is too clean for you? There's always 4chan, you know.
  8. toooooot

    toooooot TS Evangelist Posts: 815   +400

    Reddit be like: sheshe

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