Fidelity estimates Reddit's holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

Fidelity estimates Reddit’s holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

  • iWidji@lemmy.worldEnglish
    12·
    1 year ago

    For those who didn’t read the article, important note.

    The valuation decrease was as of May 31.

    It wasn’t even after the Reddit apocalypse! What is going to happen next?

    • washashore@lemmy.worldEnglish
      11·
      1 year ago

      Call me a cynic, but chances are that yes, it will fall further after this and it may stay down for a little while too. But then it will go back up. This is a seismic event, bound to shake things up, but the reality from the numbers I’ve seen is that engagement is more or less back to normal and will further stabilize after the repercussions of third-party apps shutting down subsides over the next few weeks.

      I’d be shocked if come September-October their numbers aren’t back to where they were, and frankly probably even better because more people will switch to their own app and be exposed to advertising. I hate that this is the case, I’m not on reddit anymore after 13 years of daily use, but realistically habits are habits and the majority of people don’t care enough about the big picture. Fingers crossed I’m wrong though, I’d love to see it burn - even if it takes a few years - just because of how much of a POS spez is.

      • iWidji@lemmy.worldEnglish
        4·
        1 year ago

        I think that’s a fair take that’s likely to happen. It really depends now on what Reddit does to try to normalize things or blow things up more. I think if they try to just rebuild relationships with their new group of users, they may survive.

        But they also seem equally as likely to find a new way to screw themselves over…

        • Corkyskog@sh.itjust.worksEnglish
          3·
          1 year ago

          They still haven’t replaced >90% of the moderators… it will take months, probably longer to feel the full effects. People will test it, and will get creative. There is a decent chance if they aren’t actively working on a sophisticated plan for thay, the website turns into an alt-right cess pool with CP that slips through the cracks.