Unicorn Mauling: Fidelity Slashes Valuation Of Startup Superstar Uber By 7.5%
One month ago, Fidelity started a firestorm in the venture capital community when hot on the heels of recent downward revaluations of such pre-IPO unicorns as Dropbox, and Square, the world's second largest mutual fund (which had previously been accused of venturing where it shouldn't by buying stakes in private-stage companies and subsequently having to value them on its own) took an axe to some of its private company investments, in this case slashing the value of Snapchat, the fifth highest valued "unicorn", by 25%.