T. Rowe Price marks down investment in Apptio and other private tech companies, yet another sign of a cooling market

Apptio CEO Sunny Gupta at the company's HQ in Bellevue
T. Rowe Price sunk gobs of money into companies such as Cloudera, Dropbox, Apptio and Evernote in recent years, oftentimes at lofty valuations. Now, the giant mutual fund manager is resetting some of those bets. According to a report in The Information (subscription required), T. Rowe Price has marked down its stakes in a number of companies. The biggest haircut in valuation is at file storage company Dropbox, which saw its stake reduced by 51 percent over the course of just three months. It set Dropbox’s share price at $ 9.40 for the period ending Dec. 31 2015, down from $ 19.10… Read More
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