Fidelity marked down value of several pre-IPO companies in January
BOSTON (Reuters) - Fidelity Investments, the largest mutual fund investor in pre-IPO companies, marked down the value of several start-up stars in January, with web security firm Cloudflare Inc taking the biggest hit with a 31 percent decline.
Boston-based Fidelity disclosed the valuation adjustments on Sunday in fund holding disclosure updates for January.
Fidelity's $103 billion Contrafund FCNTX.O disclosed reduced valuations for Blue Apron Inc (-12 percent), Nutanix Inc (-7 percent), Twilio (-13 percent), Cloudflare (-31 percent), Delphix (-12 percent) and DropBox Inc (-10 percent).
(Reporting By Tim McLaughlin; Editing by Chizu Nomiyama)
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