this post was submitted on 30 Jun 2023
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637
Fidelity cuts Reddit valuation again (techcrunch.com)
submitted 1 year 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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[–] [email protected] 2 points 1 year ago

They did this May 31st. I know the API was announced in April but the main details were early June, and the real shit show began around June 8th I think. And this is definitely before advertisers started reconsidering where they spend their money. So we haven't even seen the effects of the dumpster fire yet. There's probably more devaluation yet to come.