Bye Reddit

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A memorial for the front page of the internet. If you have left reddit or is considering leaving then this community is for you.

There’s also a blog documenting the rise and fall of reddit as well as news and thoughts on the whole issue.

It serves as an archive for posts and topics in case reddit decides to delete anti-reddit posts within its platform.

https://byereddit.com <—- here it is in case you’re interested

founded 1 year ago

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Reddit’s Valuation Has Fallen Even Further, Fidelity Says (www.gizmodo.com.au)

submitted 1 year ago* (last edited 1 year ago) by rockyrikoko to c/byereddit

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Reddit is facing a crisis both in its user base and its finances. After protests and backlashed ravaged the platform in the wake of Reddit opting to charge for access to its API, the company’s valuation has been sliced.

TechCrunch reports that the Blue Chip Growth Fund at Fidelity, a major financial services provider, has reduced its estimates of Reddit’s holdings following an already poor estimate earlier this spring. Fidelity now estimates that Reddit’s holdings could be around $US15.4 million as of May 31, which is down over 7% from the fund’s estimates of $US16.6 million from this past April. This new figure is is also a reported 45.4% slide since Reddit secured Series F funding in August 2021, when an asset manager acquired the platform’s shares for $US28.2 million.

Reddit did not immediately return Gizmodo’s request for comment on the valuation.

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[–] Jackolantern 2 points 1 year ago

I hope u/Spez finds what he did worth it