is this correct? It doesn't sound right. It last raised money at $10B in 2021, but Fidelity, who led that round have since cut that valuation on their own book

is this correct? It doesn't sound right. It last raised money at $10B in 2021, but Fidelity, who led that round have since cut that valuation on their own books back to $6B. I would not be surprised if that is a conservative number. The market has moved and reddit hasn't been going in the right direction. While that's still a lot of money, it is unprofitable, so a trade sale would make some sense. The real issue is that it comes with a lot of reputational baggage that a lot of public companies would not want.