Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.
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.
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.
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.
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.
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.
Discord too? Hopefully that will start a wake up call for them.
Interesting, I wonder if it’s related at all to user discontent over the username change or if it’s just because UGC-reliant platforms seem very turbulent atm
Ohhhhhhhhh yes. Here’s a comment that sums up people’s anger about it and look how many upvotes it has. And here’s all posts sorted by votes. Also compare the previously-most-upvoted posts’ ages compared to this one.
People care, a lot.
Can we get much lower? So low