Reddit confirms $300M Series D led by China’s Tencent at $3B value
|TechCrunch 11 Feb 2019 at 09:57|
The round brings the Conde Nast-majority owned Reddit to $550 million in total funding. Beyond Tencent, the rest of the round came from previous investors potentially including Andreessen Horowitz, Sequoia, and Fidelity. Apparently frustrated that we had disrupted its PR plan, Reddit today handed confirmation of the round to CNBC which re-reported our scoop without citation.
Reddit’s CEO Steve Huffman has had his own problems with attribution after the exec was caught editing users’ comments to mislead viewers into thinking they were insulting their Subreddit’s moderators. Huffman managed to get off with just an apology and vow not to do it again, though he seemed to laugh off and excuse the abuse of power by saying “I spent my formative years as a young troll on the Internet.”
Reddit cracks down on abuse as CEO apologizes for trolling the trolls