Fidelity Writes Down High Flying Tech Start-UpsRupert Hargreaves
Mutual-fund group Fidelity Investments, one of the most high-profile early-stage tech investors (and asset managers), has written down the value of its holding in Snapchat by 25%, raising questions about the valuations of privately-held tech companies.
According to data from Morningstar, Fidelity, which had valued each Snapchat share it owned at $30.72 back in June, believed that the value of each share had dropped to $22.91 by the end of . . .
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