Online Grocer Instacart, a Tiger Fund Favorite, Takes a Valuation Hit

Here’s how five firms known for their hedge funds could be impacted by Fidelity’s downgrade.

Tiffany Hagler-Geard/Bloomberg

Tiffany Hagler-Geard/Bloomberg

The multi-month selloff of tech and internet stocks and the drying up of the IPO market is apparently impacting valuations of high-profile unicorns and decacorns.

The Information has reported that in November, mutual fund giant Fidelity Management & Research marked down its valuation of Instacart, the online grocery shopping service, by 18 percent.


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