Reddit gets a $150 million investment from Tencent and users are posting memes to mock the deal
Monday, 11 February 2019 () Reddit has received a $150 million investment from Tencent, the Chinese tech giant behind WeChat* *and League of Legends, sparking fears of censorship from Reddit users. The investment was first rumored last week, and led to Reddit users posting photos and memes banned in China in protest of Tencent’s involvement.
The protests have centered around two images in particular: Winnie the Pooh, whose likeness is largely banned because users have mocked its resemblance to President Xi Jinping, and images of the iconic Tank Man from the Tiananmen Square massacre. Both are censored in China because of state rules aimed at keeping internet users from opposing the government. One Reddit user quipped, “I thought it would be nice to post this picture...
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Snap beat on both the top and bottom lines. The company also said its daily active-user count stabilized in the period after two quarters of decline. Snap was up 21.7% early Wednesday to $8.57 a share..
According to Business Insider, on Monday one of AMD's largest shareholders, Mubadala Investment, disclosed that it sold 34.9 million shares in AMD. The chipmaker's stock was down 3.15% to $23.37 apiece..
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