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submitted 1 year ago by L4s to c/technology

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

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[–] Buffalox 125 points 1 year ago (24 children)

I read before all this started reddit was valued around $10 billion.

Now it's already down to $5.5 billion.

These are estimates, since reddit hasn't gone public yet, there is no official market value.

Still I'm guessing that next week it will be valued even lower. Tomorrow is when the real shit hits the fan.

[–] kultsinuppeli 6 points 1 year ago (1 children)

Well, that's a bit misleading. It was $10 billion in August 21. But all of the startup type tech companies have taken huge dives after that.

So the actual impact of the protests are yet to be seen. E.g. the value of Discord shrank even more than reddit.

[–] Buffalox 3 points 1 year ago

I'm pretty sure I saw it valued at 10 bil 14 days ago.

Tech has gone down, then up again, since august, for instance alphabet is higher now than back in August.

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