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Gupshup Investor Cuts Value of Its Stake Again, Implying New Valuation of $486M
Asset management firm Fidelity has taken a significant step in revaluing its stake in business messaging platform Gupshup once more. According to a recent monthly disclosure, Fidelity slashed the estimated worth of its stake in Gupshup by 7.7% last month.
As a result, the value of Fidelity’s holding in the SaaS startup has decreased by over 65% since its initial investment in mid-2021. The investor now values its holding at $5.62 million, which is down from $6.09 million in October.
It is important to note that Fidelity’s original investment was made in a funding round that valued Gupshup at $1.4 billion. At the time of this investment, Fidelity poured in $16.2 million into the startup.
Source: techcrunch.com
