Snapchat valuation not disappearing

Snapchat valuation not disappearing by PitchBook Ephemeral messaging app Snapchat has reportedly raised $175 million in funding from Fidelity Investments, keeping its valuation at $16 billion. While the company’s valuation has historically grown rapidly—including jumping from $860 million in 2013 to $2 billion in early 2014—it has been at the forefront of what many see as a tech bubble, with overly frothy private valuations for companies lacking solid revenues and business fundamentals. The investment from Fidelity also raises eyebrows because of recent markdowns the mutual fund gave to its previously purchased Snapchat shares. In November, Fidelity lowered the perceived value of…