Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.

  • Goronmon
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    1210 months ago

    Just in case anyone tries to proclaim this was due to the recent drama, the latest valuation was May 31st, before the vast majority of the recent API stuff went down, and that was only a smaller portion of the larger valuation drop that happened earlier.

  • HidingCat
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    1210 months ago

    30b and 15b original valutions for Reddit and Discord, who the hell comes up with numbers like that? I did finance as my major and while I’ve lost touch with a fair amout of the knowledge I’ve learnt, I know that the basics in equity and corporate investment means that these figures are just insane.

    • NecoArcKbinAccount
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      610 months ago

      I’m suspecting its inflated from clueless investors getting misled by tech CEOs and proceeding to overvalue the companies. Good for the CEO and other higher-ups, bad for everyone else.

      • HidingCat
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        410 months ago

        Feels that there’s some negligence going on, finance professionals should be stepping in and going, “no, that’s unrealistic”. Somewhere along the lines the game is fucked.

    • Celestial
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      110 months ago

      That’s crazy. 30b is the valuation of RedHat. And they have like 10x the revenue, very steadily growing, very steadily making money, and holds a position in enterprise that is unlikely to fall soon.

      Finance undergrad for me to and that number feels really out of touch to me as well.

      • TechyShishy
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        210 months ago

        RedHat is making waves lately too, and they’re losing a lot of support from the open source community, which is where they really rose to prominence in the first place (can you say Fedora and Centos?) but while they should face a slight stumble over their final severing from the wider OSS community, they should do fine in the long term.

      • eliz
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        110 months ago

        RH is going to be an interesting one to follow while they have their little war with RHEL against the downstream distributions. It only works because everyone shares, and with them attempting to close off access to SPRMs it’s going to get real annoying real fast.