T. Rowe Price Marked Down Its Investments In Private Companies, Including Uber And Dropbox

Notable investment management firm T. Rowe Price Group Inc TROW slashed the valuation of most of its investments in private technology companies.

According to The Wall Street Journal, T. Rowe Price Group revised its valuation on many technology companies lower, including Uber and Dropbox. The publication added that the largest markdown among private companies valued at $1 billion or more was Cloudera, an enterprise-software company whose valuation was cut by 37 percent.

MongoDB, a database-software firm saw its valuation slashed y 23 percent, followed by a 21 percent downward revision to software firm Evernote.

Both Uber and Airbnb's valuation were lowered by 6 percent. However, the firm is still sitting on a 115 percent return on its Airbnb investment.

WeWork, a crowd-sourced office sharing platform, has also netted T. Rowe a triple-digit percentage return on investment.

Finally, The Wall Street Journal also noted that of the 17 investments that T. Rowe holds in a private tech company valued at more than $1 billion, 7 of them are carrying a loss. The most notable among the firm's holdings is Dropbox which is now valued at 13 percent below the price it paid back in May 2012.