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Reddit's Valuation Has Fallen Even Further, Fidelity Says
Reddit is facing a crisis both in its user base and its finances. After protests and backlashed ravaged the platform in the wake of Reddit opting to charge for access to its API, the company’s valuation has been sliced. TechCrunch reports that the Blue Chip Growth Fund at Fidelity, a major financial services provider, has reduced its estimates of Reddit’s holdings following an already poor estimate earlier this spring.