Much has been made of Snap’s huge drop in value. But when it comes to public tech companies that lost value the fastest, Snap pales in comparison with a company some may have forgotten about—Groupon.
The online deals firm lost $10.4 billion in market capitalization, or 81%, in its first year on the public markets—and is worth even less today. Snap’s value, meanwhile, rose slightly in its first year on public markets before plummeting 56% below its IPO value—a drop amounting to $11.3 billion as of midday trading Thursday—over the past 11 months. That loss is the largest of any U.S. tech company listed by Dealogic that went public in the last decade.
