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A lot of big startups got written down by Fidelity

A lot of big startups got written down by Fidelity

November 12, 2015

Via: itCurated
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Fidelity’s recent 25% writedown of its stake in disappearing photo-app Snapchat sent shockwaves through the tech industry.

But Snapchat is not the only highly-valued company to get cut down to size and have its value slashed by the mutual fund. Zenefits, Dataminr, and Blue Bottle Coffee Co were all marked down by Fidelity in the third quarter, according to Fortune’s Dan Primack.

Perhaps the most brutal Fidelity write down: electronic cigarette maker NJoy, which saw a $9.52 million investment by Fidelity written down to just $12 — essentially the price to buy two of NJoy’s own “e-cigs.”