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Snap may be valued at up to $25bn following its initial public offering. That would propel it onto the list of the US tech groups that garnered the highest market values following their IPOs.
That’s not necessarily a good thing.
While some of the most important US tech companies, like Facebook and Google (now called Alphabet) are part of the elite group, several companies have had a rougher go at it.
Groupon, the couponing website, offers a similar cautionary tale. It boasted a market value of $12.9bn after its IPO a little more than five years ago. But the market cap has since skidded to $2bn.