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Fidelity deepens valuation cut for Reddit and Discord(techcrunch.com)

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khoplex@lemmy.one
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Itsyaboimuf@lemmy.ml
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Fidelity Blue Chip Growth Fund valued its holdings in Reddit at $15.4 million as of May 31, according to the fund’s monthly disclosure released Friday. That’s down 7.36% from $16.6 million mark at April’s closure and altogether a slide of 45.4% since its investment in August 2021. The updated share value suggests a $5.5 billion valuation for Reddit.

Let’s keep those numbers dropping!

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EvilColeslaw@beehaw.org
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Oof, and that’s their valuation as of May 31. So that includes nothing that’s happened since showing even more what a clusterfuck of an investment Reddit is.

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Wander@yiffit.net
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Someone please tag this as nsfw. This is redditdownfallporn :P

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Rexios@lemm.ee
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A little surprise that Discord is losing so much value, but Reddit deserves it

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manitcor@lemmy.intai.tech
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We did it Reddit Fediverse!

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