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Devaluations show dizzying ride for startups may be over

Funds' markdowns may halt the fast-growing market

Snapchat has been discounted 25 per cent by one of its more recent investors, Fidelity, while Dropbox was devalued by giant asset manager BlackRock earlier this year.

San Francisco

THE worth of hot technology startups seemed for years to go in only one direction: straight up. Now there are signs of growing unease over the dizzying valuations of some of the most richly priced private companies.

The latest sign has emerged with one such favourite