RaoulDukeFidelity deepens valuation cut for Reddit and Discord
baatliwalaReddit, which is currently grappling a revolt from moderators of some popular subreddits over API cost changes, was valued at $10 billion when the social media giant attracted funds in August 2021. Discord raised funding in September 2021 at a valuation of $15 billion.
Uh is this a typo? Billion???
Yep. The value of social media platforms is not in the software, it’s in the users and the content they create. This is why Twitter went for like $45 billion even though a Twitter clone is a common “programming 10 project.