Fidelity has cut Reddit valuation by 41% since 2021 investment

Fidelity, the lead investor in Reddit’s most-recent 2021 funding round, has slashed the estimated worth of its equity stake in the popular social media platform by 41% since the investment, 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, according to the fund’s monthly disclosure released over the weekend. That’s down 41.1% over the $28.2 million the firm spent to acquire the Reddit shares in the Series F funding, according to disclosures

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