Fidelity deepens valuation cut for Reddit and Discord

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

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FTA:

The updated share value suggests a $5.5 billion valuation for Reddit. […]

[…] currently grappling a revolt from moderators of some popular subreddits over API cost changes, was valued at $10 billion when the social media giant attracted funds in August 2021.

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