Global EditionASIA 中文双语Français
Home / Business / Companies

Reddit raises 300 mln USD in funding round led by China's Tencent

Xinhua | Updated: 2019-02-12 05:48

SAN FRANCISCO, Feb. 11  -- US social media site Reddit Inc. said Monday it has raised 300 million US dollars in Series D round led by China's internet giant Tencent Holdings Ltd., which pushed the company's market valuation to 3 billion dollars.

Reddit CEO Steve Huffman told CNBC news outlet that Tencent invested 150 million dollars in the latest round of fundraising, along with other investors.

Huffman said Tencent has invested in lots of video games companies, and video games are a popular category on Reddit, a social news and media aggregation company based in San Francisco, Northern California.

Tencent is a new investor in Reddit's most recent funding round.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349