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has cut its valuations for some of the largest tech unicorns in the world, , the latest sign of distress in the private markets.

Fidelity in April marked down the value of its stakes in fintech platform by 13% to $32.05 a share, the lowest value since March 2021, Bloomberg said, citing filings and the publication’s analysis of the data.

Stripe is currently the second most highly valued U.S. startup on The ¸½½üÉÏÃÅ ¸½½üÉÏÃÅ, with a most recent disclosed valuation of $95 billion. The San Francisco-based company has received $2 billion in private funding to date from investors including , and , per ¸½½üÉÏÃÅ data.

Fidelity also slashed the value of its holdings in social media platform by one-third, Bloomberg reported, to $39.65. Reddit, based in San Francisco, was most recently valued at $10 billion on the ¸½½üÉÏÃÅ. The company has raised $1.3 billion from private investors including Fidelity.

The New York-based investment manager also reportedly cut its valuation for grocery delivery service to $64.85 per share. That’s down almost 50% from a year earlier. Instacart—which has raised nearly $3 billion in funding to date including from Andreessen, Fidelity and —in March cut its own valuation from $39 billion to $24 billion as public stocks took a beating and more startups saw their valuations decline on the secondary markets.

The San Francisco-based delivery service last month filed confidentially for an IPO and has reportedly slowed down hiring to focus on profitability ahead of a possible public market debut. That could line it up to be the first major IPO from a venture-backed startup this year.

Fidelity also reportedly trimmed the value of Shanghai-based —the owner of video streaming app and currently the most highly valued company on The ¸½½üÉÏÃÅ ¸½½üÉÏÃÅ at $180 billion—to $128.07 per share, down 13% from a month prior.

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