Reddit Chief Executive Officer Steve Huffmantold CNBC today that "one of the things that's been very important to us is that we can now assure advertisers that you are going to have a positive experience on Reddit and potentially even a new experience, a new way of connecting with customers". The push appears to be achieving results, with the company's ad revenue reportedly exceeding $100 million for the first time past year.
Reddit said it planned to use the money for global expansion and to enhance its digital ad platform to better compete in a market where Facebook Inc and Alphabet Inc's Google take in most of the revenue.
The investment from Tencent comes with some controversy because Reddit is blocked in China as part of the Great Firewall censorship initiative.
A "Pooh" picture voted to near the top of the Reddit home page bore the caption: "Since Reddit took a $150 million investment from Chinese Censorship company Tencent, please welcome our leader President Xi".
Winnie the Pooh's image is banned in China because users have mocked the character's resemblance to China's President Xi Jinping.
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.
Reddit was cofounded by Alexis Ohanian, husband of tennis superstar Serena Williams.
Over the years it has become the fifth largest social website, ranking after Google, YouTube, Facebook and Amazon, with monthly active users of 330 million. The proposed funding prompted a wave of criticism on Reddit, which many of its users see as a bastion of free speech. "Tencent has invested in hundreds of companies and there's been little involvement or interest from China's state apparatus", said Reynolds via BBC.
What do you think of the exchange? And I just thought that that's an unnatural way for a little 2nd grader to go to school. Following her appearance, she had tweeted how she wanted to be there for Alicia Keys who was the host for the big night.
Naomi Osaka has announced her split from coach Sascha Bajin , just weeks after winning her second successive Grand Slam title. Australian Open women's champion Naomi Osaka has shocked the tennis world after announcing she has split from her coach.
The Philadelphia Phillies and the San Francisco Giants are the two teams Nightengale believes are still in it for Harper. The latest turn in the Harper saga has the San Francisco Giants entering the fray at the 11th hour.
After much waiting and anticipation, the first Nintendo Direct of 2019 has been announced via the official Nintendo website. The showase of the Trilogy will apparently headline the show. which is indeed exciting news if it turns out to be true.
Police said they have examined hundreds of hours of surveillance footage in the case and interviewed several potential witnesses. Reyes lived alone in a basement apartment in New Rochelle and suffered at times from anxiety and depression, WABC reported.
When Kensington Palace first announced the couple was expecting a baby , it said the child was due sometime in the spring. Diana, like we need to remind you, tragically died in a vehicle crash while fleeing pursuing paparazzi in Paris in 1997.
Instead, Cosby prefers to speak to his wife by phone, three times a day for three minutes each, Wyatt confirmed. When asked how Cosby was surviving behind bars, Wyatt explained that Cosby was a mentally strong man.
The next year, she went to another Iranian conference and soon arranged to defect, according to the indictment . As the sanctions were announced, the USA also charged a former Air Force officer with spying for Tehran.
Yet, in the days leading up to the game, the Ligue 1 champions were not considered to be favourites any more. They also carried him through the section as they celebrated their gripping 2-0 win in the first-leg game.
NYPD Detective Shot, Killed During Robbery Call
Officer Miosotis Familia, 48, was writing in her notebook when ex-convict Alexander Bonds strode up and shot her through a window. He graduated from the New York Police Department Police Academy on October 24, 2000, the News-Review reported at the time.
How Joe Flacco's trade affects Ravens 2019 salary cap
Additionally, Schefter notes that both teams are prohibited from commenting on the trade or terms surrounding it. According to ESPN's Adam Schefter , the Ravens have reached an agreement in principle with the Broncos .
Opec tightens its taps as global oil demand stalls
The IEA left its demand growth forecast for 2019 unchanged from its last report in January at 1.4 million barrels per day. The IEA further added that traders shouldn't expect US sanctions against Venezuela to fuel a rally in oil prices.
Anthony Edwards Commits To Georgia
That is helping Texas cling onto the No. 11 spot in the national class rankings, and as the top class in the Big 12. He was scheduled to visit Florida State over the weekend but canceled the visit and committed to Georgia instead.
Bebe Rexha scolds audience at 2019 Grammy event
When Ryan asked the pop star about the reaction she got to her video, she said, "It's been unbelievable ". Among other awards, Bebe Rexha and H.E.R. are nominated for Best New Artist at the 61st Grammy Ceremony.