Snapchat's valuation falls by 25%, and more big tech companies will follow

The big tech companies of our time are being cut down to size. Snapchat, the messaging service with 100 million daily active users, and which rejected a Facebook takeover in the past, is the latest technology company to see its lofty valuation start to disappear. Fidelity, a mutual fund that invested in Snapchat as part of a more than $500 million Series F round of fundraising earlier this year, has quietly marked down the value of its stake in the company by about...
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