• VCs Aren’t the Only Ones Watching Those Mutual Fund Markdowns

    VCs Aren’t the Only Ones Watching Those Mutual Fund Markdowns

    VCs have been watching with great interest as mutual funds mark down the value of some of their privately held, illiquid investments, including shares of Dropbox, Zenefits, and Snapchat. Turns out the SEC is watching, too. A new Wall Street Journal report says the agency “has been asking more questions of large fund firms about how they value startups and whether their process ensures… Read More

  • Fidelity Writes Down Snapchat Investment

    Fidelity Writes Down Snapchat Investment

    In the latest sign that some tech startups are overvalued, Fidelity has written down the value of its stake in Snapchat by 25 percent, according to a report by Morningstar. Fidelity participated in Snapchat’s Series F round earlier this year, at an estimated $15 billion valuation. The report, first identified by the Financial Times, showed that Fidelity valued its Snapchat shares at… Read More

  • Zenefits Just Raised $500 Million At A $4.5 Billion Valuation

    Zenefits Just Raised $500 Million At A $4.5 Billion Valuation

    Zenefits today said it has raised $500 million in a round led by Fidelity and TPG at a whopping $4.5 billion valuation. The company, which allows small- and medium-sized businesses to manage human resources services in a much simpler fashion, is one of the fastest-growing SaaS businesses ever, and in an interview, Zenefits CEO Parker Conrad said the big round was raised to keep the company… Read More

  • SpaceX Raises $1 Billion In New Funding From Google And Fidelity

    SpaceX Raises $1 Billion In New Funding From Google And Fidelity

    SpaceX, the space exploration startup helmed by ex-PayPal founder Elon Musk, has confirmed that it has raised $1 billion in new funding, in a round including Google and Fidelity, who join existing investors Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn. Google and Fidelity get an ownership stake just shy of 10 percent in exchange for their investment. A report… Read More

  • Fidelity's iPhone App Helps You Manage Your Investments On The Go

    Investment giant Fidelity is getting into the mobile game with a new iPhone app. Fidelity’s free app allows you to monitor your portfolio, trades, research investments, and follow daily market news on the go. With the app, you can track your portfolio and monitor positions, balances, and intraday valuations of accounts. The app also lets you trade stocks, mutual funds, ETFs and options… Read More

  • Man claims photo of his genitals found on his iPhone is a ‘glitch’

    Flickr’d How dumb are men, generally? A woman is set to divorce her husband after she discovered a photo of his genitals in his iPhone’s sent e-mails folder. The woman suspected that the guy was sending photos of himself to other women, but the guy had an excuse: it’s just a glitch, honey. Yeah, the iPhone has this weird habit of going into photo mode, unzipping your pants… Read More

  • Stylesight Raises $16 Million In Series A Funding

    Stylesight, a company that specializes in trend forecasting and product development tools for professionals in the fashion and style industries, announced Wednesday that it has completed its series A round of funding with $16 million from Fidelity Ventures. Read More