Online forums are interesting platforms to give your opinion on any topic and Reddit is unarguably one of the largest forums on the internet. According to recent reports, Reddit has officially said the company had raised more than $300 million of funding at a valuation of approximately $3 billion from private investors. A few days ago there were many some rumors which were stating that Reddit might be getting funding from Chinese company Tencent and now Reddit has confirmed that news and said it had raised $150 million from Tencent. However, there’s a group of Redditors who are protesting against the company’s decision of getting funding from Tencent. According to them, the forum will come under some regulations from the Chinese company. Reddit is that forum which has been widely used by teenagers and youngsters on every type of topic, and that’s why it has got such a right amount of valuation from its investors.
Other than Chinese company Tencent Reddit managed to secure its remaining funding from its old investors like Andreessen Horowitz, Sequoia and Fideli. Reddit has more than 330 million active users who talk on topics related to entertainment, technology, Cryptocurrency, and even conspiracy theories. One of the primary reasons why Reddit is not able to make money is because the company doesn’t have a significant amount of data of its users since the forum allows users to go anonymous. However, one major thing which users are thinking is that the company might tighten up its policies because of Tencent’s influence. Reddit has previously faced lots of problems like Staff and user departure because of some controversies also now executives think they can solve this issue by bringing more cash in hand. However, liquid funds will help the company to solve only temporary problems; it will have to take significant steps to make its forum profitable and user-friendly.
David has an industrial background. He has a rich experience in covering business and science-related news, thanks to his love for finance and interest in space exploration. At the Prudour News, David is the go-to guy whenever we decided to cover business and science sections. In his spare time, he likes to attends conferences and forums on space exploration and shares his experience and views with people.