Fidelity has cut Reddit valuation to $5.5B from $10B

Girlparts@kbin.social to Reddit Migration@kbin.social – 286 points –
Fidelity deepens valuation cut for Reddit and Discord
techcrunch.com
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4.5 billion still sounds well to me...

Rumor has it that Reddit wants to IPO at $15 billion. Hard to do that when you were worth $10 last year and are worth $4.5 this year.