news 
Gupshup Investor Cuts Value of Its Stake Again, Implying New Valuation of $486M
In a recent development, Fidelity, an asset management firm, has slashed the estimated worth of its stake in business messaging platform Gupshup by another 7.7%. This significant reduction in value brings the total decrease to more than 65% since Fidelity’s initial investment in mid-2021.
As per the latest disclosure, one of Fidelity’s funds valued its holding in Gupshup at $5.62 million at the end of November, a drop from the previous valuation of $6.09 million in October. This substantial decrease is noteworthy, especially considering the fund’s initial investment of $16.2 million in Gupshup during the mid-2021 funding round.
It is essential to note that Fidelity’s initial investment was part of a larger funding round that valued Gupshup at $1.4 billion. The current valuation of $486 million, as calculated by Fidelity, presents a stark contrast to the startup’s previous valuation.
Gupshup, founded in India 17 years ago, had previously secured $340 million in funding from a consortium of investors, including Tiger Global, Think Investments, and Malabar Investments, in 2021.
Source: techcrunch.com
