China-based Douyin, the owner of TikTok, saw the sharpest decline in its valuation in the last six months, as it fell by $150 billion to $200 billion, as per Hurun. Fintech startups Klarna, Stripe and Ant Group's valuation dropped by $39.5 billion, $33 billion, and $30 billion, respectively. The drop in valuations comes amid global economy slowdown and high inflation.