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Tencent continues to diversify its business. It is a not a one trick pony by a long stretch but the regulatory environment in China is a risk. This time they have put $150m into Reddit. This values the business at $3bn. Reddit is a US based social news aggregation site. Users submit content and other users rate and discuss said content. Apparently last year the company had 542 million monthly visitors.
The irony about this acquisition is that Reddit is the epitome of uncensored free speech. The investment from Tencent, with Chinese roots, has caused concern amongst users about privacy and censorship. Of course Reddit is banned in China.
Remember though that Tencent is not the one with censorships, it is the Chinese government that forces Tencent to censor users. I'd imagine Tencent would prefer not to. Either way, I like that Tencent continues to use their oodles of cash to diversify in exciting businesses outside of China.