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.

5 comments

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.
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!
We did it ~~Reddit~~ Fediverse!
Someone please tag this as nsfw. This is redditdownfallporn :P
A little surprise that Discord is losing so much value, but Reddit deserves it