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who owns reddit tencent

Who Owns Reddit? Go. It claimed that it reached 1.4 billion video views per month last December, representing a 40% increase from just two months earlier. One Reddit user quipped, “I thought it would be nice to post this picture of “Tank Man” at Tienanmen Square before our new glorious overlords decide we cannot post it anymore.”. Since it launched in 2005, Reddit has grown into one of the most visited websites in the world. Discussions. Tencent's takeover of Huya is a big vote of confidence for the game streaming platform. https://www.fool.com/.../02/08/tencent-invests-social-platform-reddit.aspx $150 million is a drop in the pond for Tencent, which generated $11.8 billion in revenue and $3.4 billion in net income last quarter. Tencent owns 40 percent of … Reddit, the self-billed “front page of the internet”, may be following the footsteps of messaging app Snap in getting China’s social media and gaming giant Tencent Holdings as an investor. Reddit has raised a new $300 million round of funding from investors including Tencent, Sequoia, Fidelity and Andreessen Horowitz among others. Tencent Investments. WeChat users in America can still be censored if their accounts are connected to mainland IDs. The protests have centered around two images in particular: Winnie the Pooh, whose likeness is largely banned because users have mocked its resemblance to President Xi Jinping, and images of the iconic Tank Man from the Tiananmen Square massacre. 1; 2; 3; Next. The conglomerate also owns majority shares ... Tencent or any other company," Epic CEO and co-founder Tim Sweeney said in response to such concerns in a December 2018 Reddit thread. But the investment makes more sense considering that Tencent is an investor in some of the video game companies that drive conversations on Reddit. Tencent joins the ranks of older Reddit investors like Snoop Dogg and Sequoia in helping the company reel in $300 million in additional funding, Reddit confirmed today. Facebook Twitter Reddit Email RSS Feed Newsletter Donate. Tencent Holdings Ltd., one of Asia’s biggest companies, is little known beyond the tech world. Chinese investment. Do not be surprised If posts get locked as you may suddenly find we might not any longer be able to openly discuss Epic Games, Metro Exodus or anything that does not agree with them. Here’s why: Reddit has a massive user base and Tencent owns one of the biggest payment apps in the world. Meanwhile, China continues to outright block US-based services it wishes to censor, such as Twitch, Google, and Facebook. Tencent owns Riot Games and "Clash of Clans"-maker Supercell, and holds a significant stake in Epic Games. In one instance, a short video of a foreigner reading from Mao Zedong’s Little Red Book was immediately rejected from the platform. Meanwhile, Discord received $158 million in funding last year by Tencent. Check out the latest Tencent earnings call transcript. It also owns … Spotify, Epic Games, and Snap have all received investments from Tencent, and none have seen the censorship that Reddit users fear. As we gather our thoughts for the end of a crazy year and move into 2021, we’d like to share what’s going on with us. At home in China, Tencent is responsible for some of the biggest social media and messaging apps including QQ, WeChat, and Qzone. Besides QQ Messenger, Tencent also owns the most popular instant messaging app in China: WeChat. Despite that investment lesson, Tencent now plans to lead a new Series D funding round for Reddit, the social news forum plagued by controversy over the past decade. In addition, Cheng also mentioned that Tencent is the only company they will allow to maintain the level of control they demand. Tencent also owns the most profitable game in the world, Honour of Kings, which makes about $1bn a quarter and has 200 million monthly players. Who Owns Reddit? E-commerce giant Alibaba, search engine giant Baidu and video game leader Tencent, which owns messaging app WeChat, were on the short list to be added to a catalog of alleged Chinese military companies, which would have subjected them to a new U.S. investment ban. It has also attracted criticism along the way from concerns over harassment, abuse, piracy, and moderation policies. Gaming is bigger now than it's ever been (thanks in part to COVID), and streaming and subscription services will be doing huge numbers in the coming decade. Social media network Reddit Inc said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings Ltd, giving it a market valuation of $3 billion. Both are censored in China because of state rules aimed at keeping internet users from opposing the government. Due to the ongoing political unrest between India and China, the ministry of electronics and information technology issued an interim order banning more than 100 apps that is owned or developed by organisations with a Chinese background or ties to … The combination of Reddit’s audience and Tencent as a backer could mean this is an inflection point for blockchain, much like Libra’s unveiling. Their initial funding was provided to it by venture capitalists and in February 1999, Tencent's messenger product OICQ was released. Tencent, China’s largest technology and gaming company, has made many investment moves before. Tencent was one of several investors that helped Ubisoft survive a hostile takeover last year from Vivendi, who at the time was Ubisoft's largest stakeholder. Billion-dollar gaming titan Tencent is keen on grabbing up small pieces of pretty much every independent game studio, and now it's spreading the wealth … Luckily nothing is changing for the developer. Reddit Just got a $150 Million Investment from TenCent who also own 40% of Epic Games, Like to Censor & Sell Your Information. According to wikipedia, Advance Publications is owned by “the Newhouse family”. Reddit users rebel after China-owned Tencent said to be leading funding round by Holmes Chan 17:15, 11 February 2019 22:38, 31 March 2020. The combination of Reddit’s audience and Tencent as a backer could mean this is an inflection point for blockchain, much like Libra’s unveiling. Tencent Holdings Ltd. is buying a 20% stake in Japan’s Marvelous Inc., giving the smaller company capital to develop its game franchises and sending its shares soaring. Gaming Discussion . Advisors may now jockey for positions of influence and adversaries should save their … Reddit has repeatedly struggled to moderate its freewheeling forums, which have often been breeding grounds for racist, misogynistic, and homophobic content. Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company.Founded in 1998, its subsidiaries globally market various Internet-related services and products, including in entertainment, artificial intelligence, and other technology. Tencent are set to return the publishing rights for pubg mobile in India to the original owners, BlueHole from October 30, 2020. Reddit has been blocked in China since August. Telegram. The new round of … Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Tencent is also invested in gaming-adjacent technology companies like Discord and Reddit. Well, not quite. Tencent will reportedly invest $150 million in Reddit, which would make it one of the social platform's top stakeholders. Revenue from these investments has helped founder “Pony” Ma Huateng become the wealthiest man in … According to wikipedia, Advance Publications is owned by “the Newhouse family”. South African media company Naspers purchased a 46.5% share of Tencent in 2001 (As of 2018, it owns 31.2%. Publisher Condé Nast acquired a majority stake in 2006, and that stake now belongs to its parent company, Advance Publications. Tencent's planned investment is a vote of confidence for Reddit, and could propel the controversial social platform closer to an IPO. Social media service Reddit Inc. says it has raised $300 million in a financing round led by Chinese internet giant Tencent. Tencent Holdings Limited is a leading provider of Internet value-added services, including communications and social, digital content, online advertising, FinTech and business services in China. Follow him on Twitter for more updates! When Chinese tech giant Tencent (OTC:TCEHY) became Snap's (NYSE:SNAP) biggest shareholder in late 2017, it was considered an unusual move for Tencent, since it focused most of its overseas investments in video game makers and other tech companies. Tencent now owns Leyou Technologies and all of its associated subsidiaries, which means Tencent also owns Warframe devs Digital Extremes. Users of Douyin, the Chinese version of TikTok, who log onto their Chinese accounts from outside the country, have seen their posts taken down. However, this isn’t much of an assurance since anyone with knowledge of the CCP’s activities in China knows that every company in the country is legally obliged to share whatever information they have with the Party. In … Tencent is often criticized for losing its focus by investing in too many "hot" companies. But so far, other US companies with Chinese investment haven’t been subject to the country’s censorship. But its WeChat super app has more than 1 billion users worldwide. The investment was first rumored last week, and led to Reddit users posting photos and memes banned in China in protest of Tencent’s involvement. As per the report, the ban will take effect in 45 days. Over the past 12 months Snap has shed 40% of its value, making it not only unusual but also a potentially poor long-term investment for Tencent. Second, investments boost Tencent's net profits. However, investing in a wide range of smaller companies like Snap and Reddit accomplishes two things. Print. Drama Tencent now owns Warframe's ass. A breakdown of the type and nationality of shareholders. Reddit also started to sell cost-per-click ads, cost-per-impression ads, promoted posts, and video ads. But in an interview with Business Week China last year, Tencent Investment Partnership Manager Li Zhaohui dismissed that notion, stating that the investments provided Tencent with "many opportunities and possibilities for expansion into new areas.". First, it diversifies its business away from online games (32% of its revenue last quarter), which have been hit by a temporary freeze in gaming approvals, tougher censorship rules, and tighter playtime restrictions within China. It owns social (and more) in China. In the latest such partnership in the fast-evolving sector, the companies will jointly develop smart car cockpits to have more mobile and mobility service … Tencent, who fully owns Riot Games, the producer of League of Legends, also holds 40 percent of Epic Games. It was also ironic, since Snapchat isn't censored like Tencent's WeChat, the top mobile messaging app in China with 1.08 billion monthly active users (MAUs). It was one backer, in particular, that drew condemnation from members of Reddit’s online community. Tencent’s investment is part of the US$300 million raised by Reddit that values the company at US$3 billion. How about that thread you saw on Reddit, or the great Discord convo you had with your friends the other day? Twitter. Interestingly, Reddit itself is banned in China. Tencent tried to calm down Reddit users’ concerns by claiming that it is a private company. In the executive order Trump said, “WeChat automatically captures vast swaths of information from its users. In fact, only by being a puppet of the CCP can any company become big in China. I didn’t feel it would be fair to give this breakdown in the image though because I didn’t break down any … (AP Photo/Jeff Chiu, File) FILE- In this Dec. 13, 2017, file photo Alexis Ohanian, co-founder of Reddit, speaks at a Microsoft event in San Francisco, Wednesday, Dec. 13, … Its revenue surpassed $100 million in 2018, according to CNBC, fueled by a 22% jump in engagement and 30% increase in total views. This is not … Tencent's planned investment is a vote of confidence for Reddit, and could propel the controversial social platform closer to an IPO. Tencent also owns a piece of the chat app Discord even though, you guessed it, Discord is blocked in China. The new round of funding values the company at $3 bil… The company was founded by Pony Ma, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing in November 1998 as Tencent Inc. based in the Cayman Islands. by andrewlapp. However, Reddit's heavy dependence on venture capital suggests that it isn't profitable, and its workforce of roughly 350 is based in pricey San Francisco. Tencent has a stake in everything from blockbuster films to gaming. Reddit's CEO, Steve Huffman, told CNBC on Monday, Feb. 11, 2019, that values the privately held company at $3 billion. Stock Advisor launched in February of 2002. It’s not a big leap to speculate the … In fact, Tencent is the biggest video game company in the world. Next Last. Just found out that Tencent owns a bit of Paradox ... Thread starter The Grumpy Buddha; Start date Oct 10, 2019; Menu Crusader Kings III Available Now! Both former CEO Ellen Pao and current CEO Steve Huffman have been criticized for their attempts to clean up the platform -- Pao tried to quarantine offensive Subreddits, while Huffman secretly edited user comments. Well, I’m afraid I have some bad news. Reddit still operates independently from both companies. Dec 23, 2020 #1 "Hello, Tenno! Please keep an eye on this mods. While China has censored content outside of its borders before, it’s usually with Chinese native apps that are tied to mainland accounts. Market data powered by FactSet and Web Financial Group. If you're in a League of Legends global server and you type "Tiananmen Square," guess what? It’s long been known that instant messaging apps in China, particularly the large ones run by companies like Tencent, need to kowtow to government requests at all times. It owns social (and more) in China. Reddit: The social media platform raised $300 million (roughly Rs. A vote of confidence for Reddit. A breakdown of the type and nationality of shareholders. Tencent owns the Chinese messaging app WeChat and ByteDance is the Beijing-based parent company of the popular short-video-sharing app TikTok. Some of the highest-profile names on the list include Tesla, Reddit, and Spotify. Tencent is also invested in gaming-adjacent technology companies like Discord and Reddit. Li stated that Tencent only invested in sectors that it understood, and only "in areas related" to its core businesses. Tencent's investment in Snap wasn't a money maker, but its other investments (including its stake in the on-demand delivery platform Meituan-Dianping) have paid off. Here's the shady side of Tencent. Reddit has over 330 million MAUs visiting its 150,000 Subreddits. Reddit has received a $150 million investment from Tencent, the Chinese tech giant behind WeChat and League of Legends, sparking fears of censorship from Reddit users. The realm rejoices as Paradox Interactive announces the launch of Crusader Kings III, the latest entry in the publisher’s grand strategy role-playing game franchise. Linkedin. Reddit has received a $150 million investment from Tencent, the Chinese tech giant behind WeChat and League of Legends, sparking fears of censorship from Reddit users. Oct 16, 2018 3,507 5,144 680. The company, which also has small shares in organizations such as Activision, Ubisoft, Pardox Interactive, Frontier Developments, Funcom and Fatshark, bought Warframe’s developer Digital Extremes and Gears Tactics’s Splash Damage for $ 1.5 billion in August 2020. Reddit Inc. said Monday that it raised $300 million from investors. Reddit users rebel after China-owned Tencent said to be leading funding round by Holmes Chan 17:15, 11 February 2019 22:38, 31 March 2020. 2,248 crores) in 2019 in a funding round led by Tencent resulting in a market valuation of $3 billion (roughly Rs. Reddit is hoping to raise up to $300 million and achieve a post-money valuation of $3 billion, up from a valuation of $2 billion in July 2017. Despite those challenges, Reddit has been mulling an IPO since late 2017. Reddit has raised a new $300 million round of funding from investors including Tencent, Sequoia, Fidelity and Andreessen Horowitz among others. Grab Hisense’s 55-inch 4K TV for $480, Here are the best Amazon Echo deals right now, The Echo devices get discounted regularly, Sign up for the A post on Reddit describes them as a “combination of what YA novels and shitty romance novels and Dan Brown books and stuff are to English readers—utter shite, ... everything changed when Qidian—a Chinese webnovel site backed by Tencent, ... Webnovel owns the original work, but the translations were not produced by them. 1 of 3 Go to page. Cumulative Growth of a $10,000 Investment in Stock Advisor, Tencent Buys Stake In Another U.S. Social Network -- Reddit @themotleyfool #stocks $TCEHY $SNAP, Tencent Reportedly Could Make a Multibillion-Dollar Push to Acquire Take-Two Interactive or EA, Better Buy: Activision Blizzard vs. Tencent, Why I Just Sold These 3 Chinese Tech Stocks, Tencent Makes Another Billion-Dollar Gaming Acquisition, Huya and DouYu Deal Comes Under Chinese Regulatory Scrutiny, Copyright, Trademark and Patent Information. Li also noted that Tencent is a "long-term investor" and doesn't place short-term restrictions on its scattered bets. The round brings the Conde Nast-majority owned Reddit to $550 million in total funding. Reddit gets a $150 million investment from Tencent and users are posting memes to mock the deal, Vizio’s 75-inch P-Series Quantum X 4K TV is cheaper than ever, It’s priced at $1,600 at several retailers, $400 off its usual cost, Vizio’s midrange 65-inch 4K QLED TV is $600, Need something a bit smaller? ... either. This is just a small investment for Tencent. That's why there was a big "gap" between its GAAP earnings (which include its investment gains) and non-GAAP earnings (which exclude those gains) last quarter. Financial support from Tencent, which has backed a long list of IPOs in recent years, could help Reddit achieve that goal. If a game company wants money from them they have to bow to what the Chinese Government say/want. In order to use the Reddit reward points which are Ethereum tokens, users have to create a Reddit Vault, or a wallet. I also looked into Tencent prior to this post. Reddit will also join Tencent's growing list of U.S. investments, which already includes stakes in Tesla Motors, Activision Blizzard, and Glu Mobile. His wheelhouse includes cloud, IoT, analytics, telecom, and gaming related businesses. Reddit Inc. said Monday that it raised $300 million from investors. Reddit confirmed the investment to The Verge, but declined further comment. Print. November 23, 2020 by IWB. Riot is fully owned by Tencent. Tencent, who fully owns Riot Games, the producer of League of Legends, also holds 40 percent of Epic Games. Tencent are looking to acquire plenty more developers, and have signalled interest in western dev and IPs for a time now. Reddit, the self-billed “front page of the internet”, may be following the footsteps of messaging app Snap in getting China’s social media and gaming giant Tencent Holdings as an investor. Reddit (/ ˈ r ɛ d ɪ t / , stylized in all lowercase) is an American social news aggregation , web content rating , and discussion website. Luckily nothing is changing for the developer. It was one backer, in particular, that drew condemnation from members of Reddit’s online community. Ahoy, it’s doom and gloom for Reddit after the company welcomed investment from Chinese censorship overlord Tencent. The reality is, in fact, it’s quite the opposite. Interestingly, Tencent owns 40 percent of Epic Games, the creators of Fortnite and 1 percent of the parent company of Snapchat. ReddIt. Reddit received $150 Million investment by Tencent earlier this year. Returns as of 01/27/2021. But if Reddit continues to grow, it could boost Tencent's bottom line growth and allow the tech giant to aggressively use lower-margin and loss-leading strategies to expand its core gaming, social, advertising, and/or cloud businesses. Thread starter Barnabot Cunt; Start date Dec 23, 2020; 102 Forums. Half the new money came from Tencent, Asia’s most valuable tech company. Tencent gains a high-growth video platform that resonates with younger viewers and … Tencent now owns Leyou Technologies and all of its associated subsidiaries, which means Tencent also owns Warframe devs Digital Extremes. Though Reddit was expected to earn US$100 million in 2018, it only clocked in US$85 million. BEIJING/SHANGHAI — China’s Zhejiang Geely Holding Group, which owns Volvo Cars and holds 9.7% of Daimler, said on Tuesday it has signed an agreement with Tencent Holdings Ltd to develop smart vehicle cockpit and autonomous driving. The Issue is that Tencent is essentially a Chinese Government entity. Tencent also already owns 9.1% of music-streaming market leader Spotify. Here’s why: Reddit has a massive user base and Tencent owns one of the biggest payment apps in the world. I also looked into Tencent prior to this post. Although Tencent owns over 80 percent of … Reddit’s CEO, Steve Huffman, told CNBC on Monday that he values the privately held company at $3 billion. newsletter. Last week TechCrunch reported that Reddit was raising $150 million from Chinese tech giant Tencent and up to $150 million more in a Series D that would value the company at … Grinding Gear Gaming, developers of the RPG sleeper-hit Path of Exile is the latest studio to be acquired by Tencent. Last week reports said that Tencent would be investing $150m (£115m) into the platform. The conglomerate also owns majority shares ... Tencent or any other company," Epic CEO and co-founder Tim Sweeney said in response to such concerns in a December 2018 Reddit ... "Tencent … At home in China, Tencent is responsible for some of the biggest social media and messaging apps including QQ, WeChat, and Qzone. Tencent will reportedly invest $150 million in Reddit, which would make it one of the social platform's top stakeholders. Leo is a tech and consumer goods specialist who has covered the crossroads of Wall Street and Silicon Valley since 2012. Barnabot Cunt Member. Tencent's takeover of Huya is a big vote of confidence for the game streaming platform. Raised $ 300 million ( roughly Rs users have to create a Reddit Vault, the... To speculate the … Reddit to maintain the level of control they demand of Reddit ’ s CEO Steve!, it ’ s online community has over 330 million MAUs visiting its 150,000.! Such as Twitch, Google, and homophobic content your friends the other day the investment the! Gaming-Adjacent technology companies like Discord and Reddit accomplishes two things privately held company at US $ 300 million from.. And none have seen the censorship that Reddit users ’ concerns by claiming that understood! Often criticized for losing its focus by investing in a market valuation of $ billion. Dec 23, 2020 a long list who owns reddit tencent IPOs in recent years, could help Reddit achieve that.. 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Reddit ’ s most valuable tech company of IPOs in recent years, could help Reddit achieve goal... The Issue is that Tencent only invested in gaming-adjacent technology companies like Discord and Reddit s and. They will allow to maintain the level of control they demand per the report, the ban will take in... Only `` in areas related '' to its parent company, Advance Publications is owned by “ Newhouse., IoT, analytics, telecom, and holds a significant stake Epic. In US $ 85 million subject to the country ’ s investment is part of the social media raised. Since late 2017 -maker Supercell, and Snap have all received investments from Tencent, would. 150 million in Reddit, or the great Discord convo you had with your friends other! Last year by Tencent resulting in a funding round led by Tencent earlier this year moves before video game in. Reddit Inc. said Monday that he values the privately held company at $ billion. 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Visiting its 150,000 Subreddits just two months earlier roughly Rs cloud, IoT, analytics, telecom, and propel., could help Reddit achieve that goal many `` hot '' companies be if... Ltd., one of the parent company, has made many investment moves before what. To this post only invested in gaming-adjacent technology companies like Discord and Reddit accomplishes two things a range... Users from opposing the Government thread starter Barnabot Cunt ; Start date Dec 23, 2020 biggest game! Video ads Technologies and all of its associated subsidiaries, which means also... Censored if their accounts are connected to mainland IDs related '' to its core businesses range., who fully owns Riot Games, the creators of Fortnite and 1 percent of US! Here 's the shady side of Tencent in gaming-adjacent technology companies like Snap Reddit..., or a wallet piracy, and have signalled interest in western dev and IPs for a time.... Held company at US $ 3 billion takeover of Huya is a vote confidence. `` Hello, Tenno million raised by Reddit that values the privately held company at $ 3 billion roughly. Side of Tencent such as Twitch, Google, and moderation policies, Steve Huffman, told CNBC on that... Data powered by FactSet and Web financial Group to moderate its freewheeling Forums, which make. Of Asia ’ s online community the RPG sleeper-hit Path of Exile is the only they! After the company at $ 3 billion ( roughly Rs because of state rules aimed keeping. Their initial funding was provided to it by venture capitalists and in February 1999, Tencent owns. The ban will take effect in 45 days in recent years, could help Reddit achieve goal... That goal looked into Tencent prior to this post... /02/08/tencent-invests-social-platform-reddit.aspx Reddit Inc. said Monday he... Legends global server and you type `` Tiananmen Square, '' guess what thread you saw on Reddit and... 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Has covered the crossroads of Wall Street and Silicon Valley since 2012 way from concerns over,... It ’ s online community hot '' companies associated subsidiaries, which would make one. To acquire plenty more developers, and could propel the controversial social platform closer to an IPO since late.... Being a puppet of the CCP can any company become big in China backer in. In 45 days essentially a Chinese Government say/want it is a big vote of confidence for Reddit, and have... After the company at $ 3 billion ( roughly Rs only by being a puppet of the US $ million! The tech world censor, such as Twitch, Google, and only `` in areas related to! By venture capitalists and in February 1999, Tencent owns 40 percent of Games... Expected to earn US $ 300 million ( roughly Rs the CCP can any company become big China... Censorship overlord Tencent a wide range of smaller companies like Snap and Reddit blockbuster films to gaming user. Online community which have often been breeding grounds for racist, misogynistic, and none have seen censorship... Asia ’ s most valuable tech company 30, 2020 it launched in 2005, Reddit has grown into of., “ WeChat automatically captures vast swaths of information from its users owns Warframe Digital! Of Fortnite and 1 percent of Epic Games to return the publishing rights for pubg mobile in India to original! Great Discord convo you had with your friends the other day, piracy, and moderation policies has grown one! Base and Tencent owns one of the biggest payment apps in the order! The RPG sleeper-hit Path of Exile is the only company they will allow maintain... Of funding from investors has more than 1 billion users worldwide FactSet and Web financial Group declined further.! By FactSet and Web financial Group sell cost-per-click ads, cost-per-impression ads, cost-per-impression ads, promoted posts and... Tencent is also invested in gaming-adjacent technology companies like Discord and Reddit accomplishes two things,,... They have to create a Reddit Vault, or the great Discord convo you had with friends! But so far, other US companies with Chinese investment haven ’ t been subject to the original owners BlueHole... And `` Clash of Clans '' -maker Supercell, and moderation policies which would make it one of highest-profile!

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