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.
this post was submitted on 30 Jun 2023
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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!
We did it ~~Reddit~~ Fediverse!
A little surprise that Discord is losing so much value, but Reddit deserves it