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Fidelity cuts Reddit valuation again (techcrunch.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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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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[–] residentmarchant@lemmy.world 2 points 1 year ago* (last edited 1 year ago) (1 children)

Reddit has (very very likely) had a board ever since their first VC investment round in 2005, the board is backing this otherwise Spez would get voted out in a heartbeat

[–] TheOneWithTheHair@lemmy.world 1 points 1 year ago

If Reddit has a board, and they let Spez loose to do this crap, then they deserve a $10 BN devaluation. Maybe this will be the wakeup call.