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How reddit crushed the biggest protest in its history: Did it, though? (www.theverge.com)

submitted 1 year ago by Frostwolf@lemmy.world to c/technology@lemmy.world

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How is reddit post protest, did it really win over protesters? Did the ones who left make a dent? Or like all things before, did it ultimately do nothing?

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[-] Paradox 3 points 1 year ago

Valuation was halved before the protests started.

[-] AttackBunny@lemmy.world 1 points 1 year ago* (last edited 1 year ago)

This says after to protest. Unless I’m reading it wrong.

[-] Paradox 2 points 1 year ago

It's referring to the Fidelity cut, which was announced at the end of May

[-] AttackBunny@lemmy.world 1 points 1 year ago

And I was referring to the one that I linked, which took place after that one, and after the protests started.

[-] Paradox 2 points 1 year ago* (last edited 1 year ago)

I don't see it. The Gizmodo article sources this TechCrunch article, which says (emphasis mine):

Fidelity Blue Chip Growth Fund valued its holdings in Reddit at $15.4 million as of May 31, according to the fund’s monthly disclosure released Friday. That’s down 7.36% from the $16.6 million mark at April’s closure and altogether a slide of 45.4% since its investment in August 2021. The updated share value suggests a $5.5 billion valuation for Reddit

Yeah Giz is reporting that the valuation has been sliced after the protests, but their own source disagrees with them

this post was submitted on 08 Jul 2023

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