Depite this, all three companies' valuations were still significantly down versus a year ago.There may be a light at the end of the tunnel for tech startups that took a beating in last year's private markets.
The valuations of Stripe, Instacart, and Reddit all fared better in Fidelity's latest monthly holdings report, with Stripe seeing, according to recent filings. Instacart and Reddit's increases were more muted at 3% and 11% month-over-month, respectively, filings show. Although promising, the new valuations still serve as a sobering reminder of how far the tech industry has fallen from its 2021 highs.
Fidelity's Growth Company Fund — a $55 billion fund that invested in Stripe's Series H funding round — valued the startup at $26.87 per share in January, down more than 25% from a year ago. For Instacart, the cut was even more drastic — a more than 55% drop from its per share value in January 2022. And although Reddit saw a 12% valuation increase from its
, the value of Fidelity's holdings in the company were still a more than 30% decrease from its value at the end of 2021.Stripe has landed in headlines recently for its own internal valuation struggles. Amid financing challenges, the company