Censorship is not a successful business model. Reddit lost 41% of its value

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by 2201992

How do you go to from being worth $10 Billion to $16.6 million? Censorship is not a successful business model. And Reddit is suffering for it. Turns out investors don’t like to be censored. I wonder how many investors got banned from Reddit during the COVID nonsense and decided to say F*ck Reddit and moved there money else where? Money speaks.

techcrunch.com/2023/06/01/fidelity-reddit-valuation/

Fidelity, the lead investor in Reddit’s 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’s stake in Reddit was valued at $16.6 million as of April 28, according to the fund’s monthly disclosure released over the weekend. That’s 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.

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

Is the Censorship Industrial Complex Threatening Free Speech?

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