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Gupshup Investor Cuts Value of Its Stake Again, Implying New Valuation of $486M
Asset management firm Fidelity has reduced the estimated worth of its stake in business messaging platform Gupshup by another 7.7%, resulting in a total decrease of over 65% since its investment in mid-2021.
According to recent disclosures, one of Fidelity’s funds valued its holding in Gupshup at $5.62 million as of the end of November. This marks a significant drop from the previous valuation of $6.09 million in October.
It is worth noting that Fidelity had initially invested $16.2 million from its Blue Chip Growth Fund in Gupshup in mid-2021, as part of a funding round that valued the San Francisco-headquartered startup at $1.4 billion.
Source: techcrunch.com
