The controversial source of a huge cash infusion had Reddit execs jittery about announcing it—and they didn’t even get to trumpet their own victory.
The platform will get a $300 million jump-start to help it compete with digital advertising giants such as Facebook and Google—including $150 million from Chinese tech giant Tencent, which has raised more than a few eyebrows.
Beyond the Tencent concerns lies a major question: Can Reddit convince advertisers and consumers that it has the team and assets to go toe to toe with those goliaths?
To top it off, Reddit didn’t even have a chance to crow about the windfall. TechCrunch scooped the release.