
Fidelity Writes Down Snapchat Holding by 63 Percent - ntkachov
http://www.bloomberg.com/news/articles/2016-02-01/fidelity-writes-down-snapchat-holding-by-63-percent
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lquist
Hmm...this is odd:

Bloomberg says, "Fidelity bought convertible preferred stock in March"

However, NYPost [1] says, "investors were forced to take common stock, rather
than preferred shares or other instruments"

So which is it? Because marking down the value of preferred is very different
(and means much more) than marking down the value of common.

[1]: [http://nypost.com/2015/05/29/snapchat-has-sold-537m-in-
commo...](http://nypost.com/2015/05/29/snapchat-has-sold-537m-in-common-stock-
to-investors/)

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jlebar
Bloomberg has correct the headline to read 2% instead of 63%.

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sparky_
That's one hell of a mistake.

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wangarific
An eyeball attracting "typo"

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personjerry
The article now indicates 2% rather than 63%. This should probably be updated
in the link.

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mehwoot
Breaking: Bloomberg writes down write down of snapchat from 63 percent to 2
percent

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jsprogrammer
Snapchat is Blue Chip Growth?

Fidelity managers can't see the wipeout of $10Billion not many months after
they invest?

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yggydrasily
The cracks in the facade of phony, good-for-bragging-rights-only "valuations"
are really starting to show now. Hold on, this is going to be quite a ride!

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lvh
I'm assuming you're referring to 63% from the HN headline, and not the actual
article, which specifies _2%_, not _63%_.

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eva1984
Wooow, so it valued at around 6B right now?

