this post was submitted on 30 Jun 2023
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Even if currency were their currency...
https://techcrunch.com/2023/06/30/fidelity-deepens-valuation-cut-for-reddit-and-discord/
Very interesting. It doesn't seem to be that big of a downturn in the total valuation, but it's continuing several small downward trends for the platform. Close to 10% down isn't breaking the bank, but Investors always just count engagement numbers (for ad monetization). So it's not even factoring in the loss of content and free manpower / creators yet. Those will hurt the bottom line in the long run.
It's close to 50% down in 1 year. That's a huge valuation cut. Wait til they realise they lost many of the power users who were actually giving the website content. It's all downhill from here.
that would be enourmous