Reddit, a San Francisco-based social media platform, raised $300m in funding.
The round, which valued the company at $3 billion, was led by Tencent, with participation from Sequoia, Fidelity, Andreessen Horowitz, Quiet Capital, VY and Snoop Dogg.
Led by co-founder and CEO Steve Huffman and Chief Operating Officer Jen Wong, Reddit is a social media service aiming to be home of thousands of communities, conversation, and authentic human connection.
It works by allowing every day millions of people around the world to post, vote, and comment in communities organized around their interests. The community can share content by posting stories, links, images, and videos, comments on posts, which can be upvoted or downvoted.
The site has 330M+ monthly active users generating 14 billion average screenviews per month.