Reddit Tomorrow
Reddit Tomorrow
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Even if currency were their currency...
https://techcrunch.com/2023/06/30/fidelity-deepens-valuation-cut-for-reddit-and-discord/
[Fidelity Blue Chip Growth Fund] has further slashed the estimated worth of its holding in the social platform Reddit... [it] valued its holdings in Reddit at $15.4 million as of May 31... That’s down 7.36% from the $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.
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Very interesting. It doesn't seem to be that big of a downturn in the total valuation, but it's continuing several small downward trends for the platform. Close to 10% down isn't breaking the bank, but Investors always just count engagement numbers (for ad monetization). So it's not even factoring in the loss of content and free manpower / creators yet. Those will hurt the bottom line in the long run.
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It's close to 50% down in 1 year. That's a huge valuation cut. Wait til they realise they lost many of the power users who were actually giving the website content. It's all downhill from here.
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that would be enourmous
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75 comments