Reddit Gets $150 Million Investment From Chinese Censorship Company
Reddit, which censors dissidents in America, is now being funded by Tencent, a multi-billion dollar company which censors dissidents in China.
What happens when the front page of the internet is funded by the company that made the Great Firewall in China?
Reddit, the internet forum for communities, posts, and news, is currently fundraising to keep itself afloat, with a $300 million goal. Half of that goal has already been met, thanks to a massive investment of $150 million from Chinese censorship company Tencent. The company is in charge of blocking, blacklisting and preventing internet access to certain groups, sites, and information in China. Ironically, Tencent is responsible for the banning of Reddit in China.
Probably a good decision on their part.
TechCrunch reported that the majority stakeholder for Reddit used to be publisher Conde Nast. The majority stakeholder now is Advance Publishing. But Tencent’s massive investment gives it a boost in its status.
[…]Tencent is now “literally reinventing censorship in China,” according to Gizmodo. The company works closely with the Chinese government to ensure that the standards for censorship are met.
This strikes me as very appropriate.
No doubt they’ll be sharing their censorship techniques with one another!
Such are the wonders of globalization!