Reddit's Valuation Has Fallen Even Further, Fidelity Says - eviltoast

Fidelity estimates Reddit’s holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

  • Korkki@lemmy.world
    link
    fedilink
    English
    arrow-up
    5
    ·
    1 year ago

    I remember reading that reddit went on a hiring spree and they like multiplied their workforce during the pandemic. I heard some speculation that this API change was about that, because they now have to make ends meet somehow or at least convince the investors that they are doing something. They invested and expected further growth and the pandemic tech boom didn’t last forever. One miscalculation leads to another.