Fidelity has reduced its stake in Gupshup, a business messaging platform, by 7.7%, bringing its total valuation down over 65% since 2021. The asset manager's holding is now valued at $5.62 million, down from $6.09 million last month. Gupshup's initial valuation was $1.4 billion following a $16.2 million investment by Fidelity. The current valuation reflects a significant decline, now pegged at $486 million. Gupshup, founded in India 17 years ago, had previously raised $340 million in 2021 from various investors.