Perhaps the most An interesting story that emerged from the VC slowdown and stock market correction that began in late 2021 is the reversal of unicorn valuations.
Instagram and strip took a new one, lower scores 409a. Klarna received revaluation through a round of shares, and other well-funded startups that received funding last year are looking at prospects either flat or downgraded in 2022.
And then there’s Discord, which raised $500 million last year at a whopping $14.7 billion valuation, according to PitchBook. A chat-focused software company that previously refused to leave at Microsoft for about $10 billion, and then, according to Fidelity’s calculations, its valuation dropped. (The American investment house, which primarily specializes in publicly traded stocks, owns some Discord shares in its Contrafund, allowing us to regularly monitor how Fidelity rates them.)
As The insider first reportedFidelity recently downgraded its Discord shares. Is this reduction correct? Today, we’ll delve into Discord’s price change according to Fidelity and what we know about its growth trajectory, and then wrap up with a comparison of the public markets with the company’s changing value.
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If the Fidelity cut is fair, Discord will still retain tenhorn status, membership in a rather rare club of private companies worth $10 billion or more. But we might find that Discord is cheap in the new Fidelity brand, or that it’s still expensive, which doesn’t bode well for not only the well-known communications service favored by gamers, but a host of other unicorns as well.
Credit: techcrunch.com /