Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
China-Built Tesla Model 3 to Go On Sale Friday
Ant May Join Race for Singapore Virtual Bank Licenses
Didi Chuxing to Test Robo-Taxi Service in Shanghai, CNBC Reports
LATEST
Chinese Officials Reveal New Details of Country’s 6G Research
Meituan Posts Second Consecutive Quarterly Profit
Making Reference to ‘State Secrets,’ China Moves to Restrict Vulnerability Disclosures
Huawei Lawyers Present New Legal Argument to Stop Meng Wanzhou Extradition To U.S.
Third Quarter Earnings Show Parcel Delivery Price War Rages On
China Won’t Arbitrarily Adjust Historical GDP Data, Statistics Official Says
NetEase’s Youdao Posts Both Soaring Revenues and Widening Losses in Q3 Earnings Report
Beijing Police Work With Private Company Sinogene to Admit Six Cloned Dogs
Chinese Bitcoin-Mining Firm Raises $90 Million in U.S. Listing
Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO
Pinduoduo Shares Plunge After Report of Wider 3Q Loss
Billionaire Wang Jianlin’s Son Released From Spending Ban
China-Built Tesla Model 3 to Go On Sale Friday
U.S.-Blacklisted Chinese AI Firm to Seek Hong Kong IPO Approval: Report
Chinese Scammers Use WeChat More Than Any Other App to Conduct Online Fraud, Report Shows
China to Pilot Global On-Demand Broadband Project Next Year
New Reference Rates for Loans Edge Down in Line With Market Expectations
University President Responds to Allegation of Faking Scientific Results
Didi Expands Global Footprint With Taxi-Hailing Services in Japan, Costa Rica
Alibaba Prices Hong Kong IPO Shares at Around HK$176

By Isabelle Li / Feb 08, 2019 06:28 PM / Business & Tech

Chinese tech giant Tencent is leading a Series D round of funding for American website Reddit, TechCrunch reported.

The latest round for Reddit, a popular content-based online community, is estimated to raise $150 million to $300 million, according to TechCrunch.

Caixin reached out to Tencent for confirmation but the company declined to comment on the matter. Reddit will reach a pre-money valuation of $2.7 billion after Tencent’s investment. Its post-money valuation could reach as much as $3 billion after follow-up from Silicon Valley and other potential investors, the report said.

The company has more than 330 million monthly active users and attracts an estimated 18 billion page views per month, CNBC reported in July. The website has continued to grow its user base, and its user engagement increased by 22% in 2018, with its total audience growing nearly 30%, which would enable the company to top $100 million in revenue in 2018, according to CNBC.

Reddit declined to comment on its financials and fundraising progress.

Related: In-Depth: A Winter Storm Looms for China’s Tech Sector

Support independent journalism from China. Subscribe to Caixin Global starting at $0.99.

Share this article
Open WeChat and scan the QR code