this post was submitted on 30 Jun 2023
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143
Fidelity cuts Reddit valuation again (techcrunch.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.

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[–] linearchaos@lemmy.world 8 points 1 year ago

5.5 billion ... BILLION that's with a B

Moderators are volunteers

Content is subject to right be forgotten

Management is mostly hostile and toxic

Management is driving away the content creators.

If they decapitated the management (not literally...well...no this is not constructive) and made the API cheap as balls, you might retain the existing users and pull half that are leaving back.

There's not 5B in advertising opportunity there. Any company that wanted to get out in front of their customers is already in there talking to them for free.