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Fidelity Writes Down Snapchat Holding by 63 Percent
- yggydrasily 11y agoThe cracks in the facade of phony, good-for-bragging-rights-only "valuations" are really starting to show now. Hold on, this is going to be quite a ride!
- analognoise 11y agoYeah it turns out you aren't "changing the world!" With dumbass apps.
- lvh 11y agoI'm assuming you're referring to 63% from the HN headline, and not the actual article, which specifies _2%_, not _63%_.
- eva1984 11y agoWooow, so it valued at around 6B right now?
- lquist 11y agoHmm...this is odd: Bloomberg says, "Fidelity bought convertible preferred stock in March" However, NYPost [1] says, "investors were forced to take common stock, rather than preferred shares or other instruments" So which is it? Because marking down the value of preferred is very different (and means much more) than marking down the value of common. [1]: http://nypost.com/2015/05/29/snapchat-has-sold-537m-in-common-stock-to-investors/ http://nypost.com/2015/05/29/snapchat-has-sold-537m-in-commo...
- jsprogrammer 11y agoSnapchat is Blue Chip Growth? Fidelity managers can't see the wipeout of $10Billion not many months after they invest?
- deleted 11y ago[deleted]
- jlebar 11y agoBloomberg has correct the headline to read 2% instead of 63%.
- sparky_ 11y agoThat's one hell of a mistake.
- wangarific 11y agoAn eyeball attracting "typo"
- personjerry 11y agoThe article now indicates 2% rather than 63%. This should probably be updated in the link.
- mehwoot 11y agoBreaking: Bloomberg writes down write down of snapchat from 63 percent to 2 percent