My gut assumption just from the title was that the API changes are what triggered this valuation. The change is such a clearly bad move. I can only imagine the reaction will be when such a large percentage of users will wake up and suddenly be totally unable to access the site due to their reddit apps no longer being able to connect.
But if anyone actually read the article, the lower valuation was decided 34 days ago and published last weekend.
Right, since as I mentioned it was a gut reaction that I had previously. Reddit making such a boneheaded move does make slightly more sense when you learn that it was probably spurred on by dire news like this, but it's still a boneheaded move.
Sure, I know logically it was already long decided, but I wonder about the timing of there announcement.
Seems like TechCrunch decided to time the article, not Fidelity.