Fidelity's latest valuation markdowns of companies like Stripe and Instacart paints a grim picture for late-stage startups
Fidelity marked down the values of its shares in Stripe, according to its monthly report.Instacart has also taken a valuation hit from the asset manager, while Reddit's has rebounded. Over the last year, Fidelity's monthly filings have painted a dire picture ofsince an investing peak in 2021, which was marked by an onslaught of VC funding and sky-high valuations.
Stripe, one of the biggest startups that was handsomely rewarded during this funding peak, has now lost its luster among investors, including Fidelity. The asset manager, which has invested in Stripe through its mutual fund, marked down the value of its Stripe investment by nearly 20% in February compared to the previous month,
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