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November 10, 2015 05:54 pm GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Xuy0p06M7Yo/
Fidelity Writes Down Snapchat Investment
In the latest sign that some tech startups are overvalued, Fidelity has written down the value of its stake in Snapchat by 25%, according to a report by Morningstar. Fidelity participated in Snapchat’s Series F round earlier this year, at an estimated $15 billion valuation. The report, first identified by the Financial Times, showed that Fidelity valued its Snapchat shares at $30.72 at… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/Xuy0p06M7Yo/
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