Fidelity cut the fair value of its stake in Gupshup to $10.15 Mn as of May 31 from $11 Mn as of April 28, 2023
More importantly, this is 37.4% lower from $16.2 Mn when it invested in the startup in 2021
Gupshup’s total revenue stood at INR 1,140.7 Cr in FY22, while its net profit narrowed 24% year-on-year% to INR 39.9 Cr
US-based asset management company (AMC) Fidelity Investments has slashed the valuation of Gupshup once again, trimming the fair value of its holding in the SaaS startup by 8.4% as of May 31, 2023.
Fidelity cut the fair value of its stake in Gupshup to $10.15 Mn as of May 31 from $11 Mn as of April 28, 2023, as per its filings with the US Securities and Exchange Commission.