San Francisco-based Reddit raised a total of US$300 million at a US$3 billion valuation, with investors including Andreessen Horowitz, Fidelity Investments, Sequoia Capital and Tencent, chief executive Steve Huffman told CNBC. The TechCrunch Web site reported about the funding round last week, but that information was unconfirmed until now. Reddit users protested, some posting pictures known to be banned in China, such as cartoon character Winnie the Pooh. Reddit is also known for ask-me-anything sessions with well-known people such as Microsoft Corp cofounder Bill Gates and former US president Barack Obama. Tencent has invested in a broad array of companies, including Tesla Inc, Snapchat-parent Snap Inc and Epic Games Inc — the maker of popular video game Fortnite.

Source: Taipei Times February 12, 2019 15:56 UTC