These Tech Firms Destroyed Value the Fastest

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.