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https://techcrunch.com/2023/06/30/fidelity-deepens-valuation-cut-for-reddit-and-discord/
Valued at 10 billion when fidelity bought an ownership stake in 2021.
Currently they estimate Reddit is worth 5.6 billion
Well done team, I bet the investor calls are going great!
How it started: what if we built a platform where people create and moderate the content, but we just make all the money?
How it’s going:
If I understand the article correctly, that 5.6 billion evaluation was at the end of May - before any of this shitshow started