Snapchat's valuation cut by 2% by Fidelity
Snapchat's valuation was cut by 2% in December 2015 by Fidelity Investments, one of the biggest investors in the company. According to a public filing, Fidelity wrote down its $17.4 million share in Snapchat to $17 million. This marked the second write down by Fidelity in Snapchat in three months.