Reddit Just Received $150 Million USD From an Architect of China's Great Firewall

Sparking concerns over free speech.

Tech
4,538 Hypes 6 Comments

Last week, a report by TechCrunch showcased that Reddit was raising roughly $150 million USD from Chinese-based tech firm Tencent, with the hopes of raising another $150 million USD in a Series D funding run. Now, Reddit has announced that they have acquired the $300 million USD they’ve been in search of, making the Condé Nast majority-owned company worth approximately $3 billion USD.

The odd and rather eerie pairing means that one of the architects behind China’s notorious Great Firewall has now invested into one of America’s top free-speech message boards and social media platforms. This hasn’t gone unnoticed by Reddit users, however, as many have already denounced the news by posting varying content that includes imagery of Tiananmen Square and Winnie the Pooh memes that seek to ridicule Chinese leader Xi Jinping’s physical appearance.

But this isn’t the first time Reddit has been in hot water from its users — back in November of 2016, the company’s CEO Steve Huffman admitted to deliberately editing user comments that further criticized and insulted him by pro-Donald Trump redditors.

With a platform that sees more than 330 million global users each month, the company’s equilibrium between freedom of expression as well as moral civility has been a tricky balancing act. Many are worried that after the round of investment, the message board could see some drastic changes as Tencent takes notice.

For more related tech news, Amazon recently invested in a self-driving car startup.

Read Full Article
Source
TechCrunch
More

What to Read Next

Kevin Durant's Thirty Five Ventures and ESPN Launch New Show 'The Boardroom'
Entertainment

Kevin Durant's Thirty Five Ventures and ESPN Launch New Show 'The Boardroom'

Exploring the business side of the sports industry.

Nike's React Element 55 Receives a Summery "Pale Pink" Treatment
Footwear

Nike's React Element 55 Receives a Summery "Pale Pink" Treatment

The latest iteration sees premium leather uppers.

NEEDLES Preps Patterned Takes on Its Signature Track Pants
Fashion

NEEDLES Preps Patterned Takes on Its Signature Track Pants

Available now.


Chicago Retailer Notre Reopens Renovated West Loop Storefront
Fashion

Chicago Retailer Notre Reopens Renovated West Loop Storefront

A beautiful retail establishment in the heart of the Windy City.

Chance The Rapper Announces Upcoming Album
Music

Chance The Rapper Announces Upcoming Album

“Been making music.”

adidas Consortium's ZX4000 4D Surfaces in a "Carbon" Colorway
Footwear

adidas Consortium's ZX4000 4D Surfaces in a "Carbon" Colorway

The latest take on the ’90s rework.

More ▾