Report: Fidelity Writes Down Investment in Snapchat
socalTECH
NOVEMBER 10, 2015
A report Tuesday in the Financial Times said that investment giant Fidelity has written its investment in Los Angeles-based Snapchat by 25 percent, citing data from a Morningstar report. Snapchat--arguably, the most visible "unicorn" startup in Southern California--had been valued at $15 billion in its last fundraising round.
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