Fidelity cuts Reddit valuation by 41%

TechCrunch
By Manish SinghJun 1, 2023, 5:33 pm165 ptsTrending
Fidelity, the lead investor in Reddit’s most-recent funding round, has slashed the estimated worth of its equity stake in the popular social media platform by 41%, the latest high-profile write-down amid a weakening worldwide economy on public markets. Fidelity Blue Chip Growth Fund’s stake in Reddit was…

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