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Revenge of the Olds: Snap’s 2015 detour that is causing its woes today

Well that didn’t take Snap very long. At least Twitter had a fleeting, ascendant post-IPO honeymoon period. Remember when Twitter seemed like the well-executed social media IPO compared to Facebook? For the first two months it was public, its market cap surged from around $15 billion to peak at nearly $40 billion. Of course that surge in value turned out to be a blessing and a curse: It ultimately only intensified Twitter’s valuation trap.
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