Source:https:\/\/techcrunch.com\/2023\/06\/01\/fidelity-reddit-valuation\/<\/a><\/br>
\nFidelity has cut Reddit valuation by 41% since 2021 investment<\/br>
\n2023-06-02 22:09:41<\/br><\/p>\n

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Fidelity, the lead investor in Reddit\u2019s most recent funding round<\/a> in 2021, has slashed the estimated worth of its equity stake in the popular social media platform by 41% since the investment.<\/p>\n

Fidelity Blue Chip Growth Fund\u2019s stake in Reddit was valued at $16.6 million as of April 28, according to the fund\u2019s monthly disclosure released over the weekend. That\u2019s down 41.1% cumulatively since August 2021 when the asset manager spent $28.2 million to acquire the Reddit shares, according to disclosures the firm has made in its annual and semi-annual reports.<\/p>\n

Reddit was valued at $10 billion when the social media giant attracted funds in August 2021. Fidelity \u2014 which has marked down its stakes<\/a> in many startups including Stripe and Reddit in recent quarters \u2014 also slashed the value of its Twitter stake, it disclosed in the filing, valuing Elon Musk\u2019s firm at about $15 billion.<\/p>\n

Reddit declined to comment.<\/p>\n

This devaluation, part of a broader trend that has hit a variety of growth stage startups across the globe in the past year, raises uncertainties about whether Reddit will maintain its initial intent to reportedly go public at a valuation around $15 billion.<\/p>\n

Reddit, which has raised over $1 billion to date, counts Sequoia Capital and Andreessen Horowitz among its backers.<\/p>\n

The current wave of valuation cutbacks sheds new light on the impact of deteriorating worldwide economic conditions on fledgling startups. Despite the diminished funding activities for startups globally over the past year, valuations of numerous larger startups have stayed constant.<\/p>\n<\/p><\/div>\n

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Science, Tech, Technology<\/br>
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\nSource:https:\/\/techcrunch.com\/2023\/06\/01\/fidelity-reddit-valuation\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/01\/fidelity-reddit-valuation\/ Fidelity has cut Reddit valuation by 41% since 2021 investment 2023-06-02 22:09:41 Fidelity, the lead investor in Reddit\u2019s most recent funding round in 2021, has slashed the estimated worth of its equity stake in the popular social media platform by 41% since the investment. Fidelity Blue Chip Growth Fund\u2019s stake in Reddit was valued […]<\/p>\n","protected":false},"author":1,"featured_media":34073,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-34072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\n