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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 Crunchbase ÌÇÐÄÊÓƵ, 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 Crunchbase 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 ÌÇÐÄÊÓƵ. 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 Crunchbase ÌÇÐÄÊÓƵ at $180 billion—to $128.07 per share, down 13% from a month prior.

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