Reddit protest updates: news on the apps shutting down and Reddit’s fights with mods
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Fidelity has lowered its valuation of its Reddit holdings.
And that’s before the protests went down. As reported by TechCrunch:
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.
I wonder what that valuation will look like next month.
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