
Fidelity Writes Down Snapchat Investment 25% - spuiszis
http://techcrunch.com/2015/11/10/fidelity-writes-down-snapchat-investment/
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spuiszis
I'm curious as to what materially materially changed in 6 months since
Fidelity invested (at $15bn pre-money)[1], considering Snapchat it looks like
they have been ramping it's revenue[2]. Maybe slowing user acquisition or
lower than projected revenue growth?

1\. [https://www.crunchbase.com/funding-
round/4a2de2da69d5ccaac85...](https://www.crunchbase.com/funding-
round/4a2de2da69d5ccaac8589108c8055e42) 2\.
[http://www.businessinsider.com/snapchat-is-on-track-to-
gener...](http://www.businessinsider.com/snapchat-is-on-track-to-
generate-100-million-in-revenue-2015-10)

