Tencent’s $150m investment into Reddit was a big deal for the San Francisco-based online message board. But for the Chinese technology company, it was just one of more than 700 investments across the world.
The Chinese company has board seats on more than 400 of those companies, according to one person close to Tencent, with 30 per cent to 40 per cent of its investments outside China.
Its investment portfolio is roughly twice as big as its main Chinese rival Alibaba and dwarfs those of US peers such as Facebook and Google and Tencent has no intention of slowing down, even after a record deal spree in 2018.
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