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Gupshup investor cuts value of its stake again, implying new valuation of $486M
Asset management firm Fidelity has once again reduced the estimated worth of its stake in business messaging platform Gupshup. According to a recent disclosure, the value of its holding in the SaaS startup was slashed by 7.7% in November, resulting in a total reduction of over 65% since Fidelity’s initial investment in mid-2021.
As per the latest valuation, Fidelity now values Gupshup at $5.62 million, down from $6.09 million in October. This significant decrease comes after the asset manager initially invested $16.2 million in Gupshup through its Blue Chip Growth Fund as part of a funding round that valued the San Francisco-headquartered startup at $1.4 billion.
Gupshup, which has its roots in India 17 years ago, had previously raised $340 million in 2021 from several investors, including Tiger Global, Think Investments, and Malabar Investments.
Fidelity’s revised valuation of Gupshup now puts the company’s worth at a significantly lower $486 million.
Source: techcrunch.com
