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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD

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Tencent : Reddit valued at $3 billion after raising $300 million in latest funding round

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02/11/2019 | 01:30pm EDT
Reddit mascots are displayed at the company's headquarters in San Francisco

(Reuters) - Social media network Reddit Inc said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings Ltd, giving it a market valuation of $3 billion.

The series D funding round saw a $150 million investment from Tencent and the company's former investors, including Sequoia, Fidelity, Tacit and Snoop Dogg.

The investment from a China-based company, news of which started making the rounds around five days ago, quickly ignited censorship fears on Reddit, which calls itself the "front page of the internet." Reddit is banned in China under the country's censorship laws. http://bit.ly/2Gl7J9E

Barring the latest funding, San Francisco, California-based Reddit has raised more than $250 million in three other funding rounds. Its last funding was on Aug. 1, at a valuation of around $1.8 billion. The company has over 20 investors, including Advance Publications, which owns Conde Nast, Reddit's one-time parent company.

The company recently faced a user data breach where a hacker broke into its systems and accessed data, including current email addresses and a 2007 database backup containing old encrypted passwords. However, Reddit largely shrugged it off, saying the attacker gained read-only access to some systems that contained the backup data.

Reddit has more than 330 million average monthly active users, with 14 billion screenviews per month, as of Nov. 12, 2017, it said on its website.

(Reporting By Aparajita Saxena in Bengaluru; Editing by James Emmanuel)

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Financials (CNY)
Sales 2019 403 B
EBIT 2019 113 B
Net income 2019 88 204 M
Finance 2019 82 236 M
Yield 2019 0,30%
P/E ratio 2019 36,33
P/E ratio 2020 28,52
EV / Sales 2019 7,79x
EV / Sales 2020 5,96x
Capitalization 3 223 B
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Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 356  CNY
Spread / Average Target 5,6%
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Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
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