Reddit will also join Tencent's growing list of U.S. investments, which already includes stakes in Tesla Motors, Activision Blizzard, and Glu Mobile. Reddit has repeatedly struggled to moderate its freewheeling forums, which have often been breeding grounds for racist, misogynistic, and homophobic content. 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 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. Li also noted that Tencent is a "long-term investor" and doesn't place short-term restrictions on its scattered bets. This is not … 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. Tencent's planned investment is a vote of confidence for Reddit, and could propel the controversial social platform closer to an IPO. 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. 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 … Reddit’s CEO, Steve Huffman, told CNBC on Monday that he values the privately held company at $3 billion. At home in China, Tencent is responsible for some of the biggest social media and messaging apps including QQ, WeChat, and Qzone. 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. Tencent will reportedly invest $150 million in Reddit, which would make it one of the social platform's top stakeholders. 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 … 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. 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. Li stated that Tencent only invested in sectors that it understood, and only "in areas related" to its core businesses. Leo is a tech and consumer goods specialist who has covered the crossroads of Wall Street and Silicon Valley since 2012. Twitter. 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. Tencent is also invested in gaming-adjacent technology companies like Discord and Reddit. Well, I’m afraid I have some bad news. Tencent now owns Leyou Technologies and all of its associated subsidiaries, which means Tencent also owns Warframe devs Digital Extremes. Tencent, who fully owns Riot Games, the producer of League of Legends, also holds 40 percent of Epic Games. Users of Douyin, the Chinese version of TikTok, who log onto their Chinese accounts from outside the country, have seen their posts taken down. Tencent's takeover of Huya is a big vote of confidence for the game streaming platform. 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. Reddit received $150 Million investment by Tencent earlier this year. The new round of … Reddit has raised a new $300 million round of funding from investors including Tencent, Sequoia, Fidelity and Andreessen Horowitz among others. Dec 23, 2020 #1 "Hello, Tenno! Interestingly, Reddit itself is banned in China. 1; 2; 3; Next. The Issue is that Tencent is essentially a Chinese Government entity. Print. Reddit has been blocked in China since August. It was one backer, in particular, that drew condemnation from members of Reddit’s online community. It claimed that it reached 1.4 billion video views per month last December, representing a 40% increase from just two months earlier. Reddit (/ ˈ r ɛ d ɪ t / , stylized in all lowercase) is an American social news aggregation , web content rating , and discussion website. The new round of funding values the company at $3 bil… In the executive order Trump said, “WeChat automatically captures vast swaths of information from its users. Tencent Investments. 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. 1 of 3 Go to page. Though Reddit was expected to earn US$100 million in 2018, it only clocked in US$85 million. Tencent owns Riot Games and "Clash of Clans"-maker Supercell, and holds a significant stake in Epic Games. Who Owns Reddit? I also looked into Tencent prior to this post. Riot is fully owned by Tencent. Reddit: The social media platform raised $300 million (roughly Rs. Tencent is often criticized for losing its focus by investing in too many "hot" companies. Drama Tencent now owns Warframe's ass. Publisher Condé Nast acquired a majority stake in 2006, and that stake now belongs to its parent company, Advance Publications. Here’s why: Reddit has a massive user base and Tencent owns one of the biggest payment apps in the world. Tencent are looking to acquire plenty more developers, and have signalled interest in western dev and IPs for a time now. Tencent's takeover of Huya is a big vote of confidence for the game streaming platform. According to wikipedia, Advance Publications is owned by “the Newhouse family”. Market data powered by FactSet and Web Financial Group. Gaming Discussion . 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! 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, China’s largest technology and gaming company, has made many investment moves before. Reddit confirmed the investment to The Verge, but declined further comment. 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). Tencent will reportedly invest $150 million in Reddit, which would make it one of the social platform's top stakeholders. Meanwhile, China continues to outright block US-based services it wishes to censor, such as Twitch, Google, and Facebook. ReddIt. However, investing in a wide range of smaller companies like Snap and Reddit accomplishes two things. It owns social (and more) in China. This is just a small investment for Tencent. 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. Reddit Inc. said Monday that it raised $300 million from investors. If you're in a League of Legends global server and you type "Tiananmen Square," guess what? Who Owns Reddit? Their initial funding was provided to it by venture capitalists and in February 1999, Tencent's messenger product OICQ was released. In addition, Cheng also mentioned that Tencent is the only company they will allow to maintain the level of control they demand. Although Tencent owns over 80 percent of … Barnabot Cunt Member. Tencent tried to calm down Reddit users’ concerns by claiming that it is a private company. Go. Some of the highest-profile names on the list include Tesla, Reddit, and Spotify. But the investment makes more sense considering that Tencent is an investor in some of the video game companies that drive conversations on Reddit. 2,248 crores) in 2019 in a funding round led by Tencent resulting in a market valuation of $3 billion (roughly Rs. In one instance, a short video of a foreigner reading from Mao Zedong’s Little Red Book was immediately rejected from the platform. Chinese investment. Reddit still operates independently from both companies. Telegram. 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. Meanwhile, Discord received $158 million in funding last year by Tencent. Facebook Twitter Reddit Email RSS Feed Newsletter Donate. Reddit has raised a new $300 million round of funding from investors including Tencent, Sequoia, Fidelity and Andreessen Horowitz among others. 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. 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. 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. newsletter. In order to use the Reddit reward points which are Ethereum tokens, users have to create a Reddit Vault, or a wallet. Oct 16, 2018 3,507 5,144 680. Here's the shady side of Tencent. Tencent also owns a piece of the chat app Discord even though, you guessed it, Discord is blocked in China. Reddit has over 330 million MAUs visiting its 150,000 Subreddits. The reality is, in fact, it’s quite the opposite. 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. Returns as of 01/27/2021. While China has censored content outside of its borders before, it’s usually with Chinese native apps that are tied to mainland accounts. 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. https://www.fool.com/.../02/08/tencent-invests-social-platform-reddit.aspx Besides QQ Messenger, Tencent also owns the most popular instant messaging app in China: WeChat. 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. But so far, other US companies with Chinese investment haven’t been subject to the country’s censorship. 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. His wheelhouse includes cloud, IoT, analytics, telecom, and gaming related businesses. Next Last. At home in China, Tencent is responsible for some of the biggest social media and messaging apps including QQ, WeChat, and Qzone. Spotify, Epic Games, and Snap have all received investments from Tencent, and none have seen the censorship that Reddit users fear. Luckily nothing is changing for the developer. Check out the latest Tencent earnings call transcript. Reddit's CEO, Steve Huffman, told CNBC on Monday, Feb. 11, 2019, that values the privately held company at $3 billion. 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. 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.”. 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. Second, investments boost Tencent's net profits. 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. It owns social (and more) in China. Interestingly, Tencent owns 40 percent of Epic Games, the creators of Fortnite and 1 percent of the parent company of Snapchat. November 23, 2020 by IWB. Here’s why: Reddit has a massive user base and Tencent owns one of the biggest payment apps in the world. 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. $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. Since it launched in 2005, Reddit has grown into one of the most visited websites in the world. It’s not a big leap to speculate the … 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 … Print. South African media company Naspers purchased a 46.5% share of Tencent in 2001 (As of 2018, it owns 31.2%. 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. 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. But its WeChat super app has more than 1 billion users worldwide. 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. As per the report, the ban will take effect in 45 days. 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. If a game company wants money from them they have to bow to what the Chinese Government say/want. Tencent owns the Chinese messaging app WeChat and ByteDance is the Beijing-based parent company of the popular short-video-sharing app TikTok. 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 … 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. Tencent Holdings Ltd., one of Asia’s biggest companies, is little known beyond the tech world. Discussions. by andrewlapp. It was one backer, in particular, that drew condemnation from members of Reddit’s online community. Advisors may now jockey for positions of influence and adversaries should save their … Last week reports said that Tencent would be investing $150m (£115m) into the platform. Tencent also already owns 9.1% of music-streaming market leader Spotify. 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. Ahoy, it’s doom and gloom for Reddit after the company welcomed investment from Chinese censorship overlord Tencent. In … Revenue from these investments has helped founder “Pony” Ma Huateng become the wealthiest man in … WeChat users in America can still be censored if their accounts are connected to mainland IDs. In fact, Tencent is the biggest video game company in the world. 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. 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? In fact, only by being a puppet of the CCP can any company become big in China. I also looked into Tencent prior to this post. According to wikipedia, Advance Publications is owned by “the Newhouse family”. How about that thread you saw on Reddit, or the great Discord convo you had with your friends the other day? 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. 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 now owns Leyou Technologies and all of its associated subsidiaries, which means Tencent also owns Warframe devs Digital Extremes. 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. Follow him on Twitter for more updates! It also owns … Luckily nothing is changing for the developer. Please keep an eye on this mods. Its revenue surpassed $100 million in 2018, according to CNBC, fueled by a 22% jump in engagement and 30% increase in total views. Tencent, who fully owns Riot Games, the producer of League of Legends, also holds 40 percent of Epic Games. Social media service Reddit Inc. says it has raised $300 million in a financing round led by Chinese internet giant Tencent. 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 (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, … Well, not quite. 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. ... either. 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. 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. Tencent owns 40 percent of … Reddit Just got a $150 Million Investment from TenCent who also own 40% of Epic Games, Like to Censor & Sell Your Information. Half the new money came from Tencent, Asia’s most valuable tech company. Reddit Inc. said Monday that it raised $300 million from investors. 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 combination of Reddit’s audience and Tencent as a backer could mean this is an inflection point for blockchain, much like Libra’s unveiling. 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. A vote of confidence for Reddit. Tencent are set to return the publishing rights for pubg mobile in India to the original owners, BlueHole from October 30, 2020. Despite those challenges, Reddit has been mulling an IPO since late 2017. 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. I didn’t feel it would be fair to give this breakdown in the image though because I didn’t break down any … Tencent gains a high-growth video platform that resonates with younger viewers and … Thread starter Barnabot Cunt; Start date Dec 23, 2020; 102 Forums. 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. Tencent is also invested in gaming-adjacent technology companies like Discord and Reddit. Stock Advisor launched in February of 2002. Financial support from Tencent, which has backed a long list of IPOs in recent years, could help Reddit achieve that goal. The round brings the Conde Nast-majority owned Reddit to $550 million in total funding. A breakdown of the type and nationality of shareholders. 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. Both are censored in China because of state rules aimed at keeping internet users from opposing the government. Linkedin. Tencent has a stake in everything from blockbuster films to gaming. It has also attracted criticism along the way from concerns over harassment, abuse, piracy, and moderation policies. Tencent’s investment is part of the US$300 million raised by Reddit that values the company at US$3 billion. Grinding Gear Gaming, developers of the RPG sleeper-hit Path of Exile is the latest studio to be acquired by Tencent. 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.". Tencent's planned investment is a vote of confidence for Reddit, and could propel the controversial social platform closer to an IPO. 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