this post was submitted on 30 Jun 2023
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Fidelity cuts Reddit valuation again (techcrunch.com)
submitted 2 years ago by L4s to c/technology
61 comments fedilink hide all child comments
 

Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.

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[โ€“] [email protected] 1 points 2 years ago (1 children)

They devalued discord similarly as well, though..

[โ€“] [email protected] 1 points 2 years ago

And considering how many subreddits announced they were moving to discord, that doesn't entirely fit.

In a lot of ways this probably means nothing. The Fidelity valuation was at best an informed guess and it's now an informed guess. Though it matters a lot if you are considering taking Reddit public, since many other players will look at what they did and try to do something similar because they don't want to look like they aren't paying attention.