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 valued at $16.6 million as of April 28, […]
Fidelity cuts Reddit valuation by 41% by Manish Singh originally published on TechCrunch...