View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Hardware
November 11, 2015

Fidelity writes down Snapchat stake by 25% – report

News: Private investment write down for another web start up.

By Joao Lima

One of Snapchat‘s largest investors, Fidelity, has written down its stake in the start-up by 25%, a report suggests.

The document, obtained by the FT and produced by investment research firm Morningstar, claims the investor company has written down its Snapchat shares to $22.91, down from $30.72 at the end of June.

Fidelity took part in Snapchat’s funding series earlier in the year, when the company was estimated to be worth $15 billion.

The last series of funding for Snapchat took place on May 29. Since its first round on February 11, 2013 the company has raised $1.4bn in total across eight rounds from nine investors.

Snapchat is not the only company to see investor shares go down. Earlier in the year, investor Blackrock also downgraded its stake with Dropbox.

Twitter’s CEO company Square, has also downgraded its IPO valuation to $4 billion, down from an early estimate of $6 billion.

Content from our partners
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business
When it comes to AI, remember not every problem is a nail

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.