T. Rowe Marks Down Dropbox Stake 51%

Source: SEC Filings; T. Rowe Price portfolio holdings reports. Graphic by Peter Schulz.

Mutual fund manager T. Rowe Price marked down its investments in several private tech companies in the fourth quarter of 2015, including cutting the carrying value of its stake in Dropbox by 51%.

T. Rowe valued its Dropbox investments at $9.40 a share as of Dec. 31, according to portfolio holdings reports it released last week, down from the $19.10 paid by investors in Dropbox’s last fundraising in 2014. That round valued the company at $10 billion.

No subscription? You’re missing out.
Join the high-powered community of tech and business leaders who rely on The Information’s original news and in-depth reporting.
Subscribe to read the remaining 474 words of this article.
What’s included in a subscription?
Read The Information’s original, in-depth reporting and analysis
Receive as-they-happen articles via email
Talk with award-winning reporters in subscriber-only conference calls
Join the conversation on our subscriber-only Slack channel
Attend intimate, high-powered events with leaders in tech and business
Subscribe to The Information

T. Rowe also revealed in filings that it took a stake in Chinese ride-sharing company Didi Kuaidi in the fourth quarter, in addition to a previously reported stake in Uber's latest fundraising.

–Steve Nellis contributed to this article.


Jorge Urrutia del Pozo and John Danner commented on this article.
Read comments from top tech and industry leaders
Evan Spiegel
Evan Spiegel
CEO, Snapchat
Chamath Palihapitiya
Chamath Palihapitiya
Founder & Managing Partner, SocialCapital
Marc Andreessen
Marc Andreessen
Co-Founder, Andreessen Horowitz
Jonah Peretti
Jonah Peretti
CEO, Buzzfeed
Adam D'Angelo
Adam D'Angelo
CEO, Quora
Brit Morin
Brit Morin
Founder & CEO, Brit + CO
Dustin Moskovitz
Dustin Moskovitz
Co-Founder, Asana
Christina Miller
Christina Miller
President & General Manager, Turner
Max Levchin
Max Levchin
CEO, Affirm
Adam Mosseri
Adam Mosseri
Director of Product, Facebook
Alex Mather
Alex Mather
The Atheltic
Martha Josephson
Martha Josephson
Partner, Egon Zehnder
James Murdoch
James Murdoch
Co-Chief Operating Officer, 21st Century Fox
Andrew Kortina
Andrew Kortina
Founder, Venmo
Ben Chestnut
Ben Chestnut
Co-Founder & CEO, Mailchimp
Ruchi Sanghvi
Ruchi Sanghvi
VP Operations, Dropbox
Login or Subscribe to follow the discussions happening here and real-time in our   Slack Community.
It’s unclear whether the markdowns are driven by internal financial challenges at the companies or external factors such as public market comparisons.