30-03-2016 19:49 via uk.news.yahoo.com

Fidelity marks down stake in pre-IPO startups Cloudera, Dropbox

By Heather Somerville and Tim McLaughlin BOSTON (Reuters) - Fidelity Investments has slashed its estimated valuation of technology companies Cloudera and Dropbox, a report on Wednesday showed, in the latest indication of concern over the high prices of startups that have raised many millions from private investors, but delayed going public. Boston-based Fidelity, which has become one of the largest investors in pre-IPO companies through mutual funds that include the $100 billion-plus Contrafund
Read more »