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Equity: Snap reaches new low, and Uber cries uncle in Russia
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Published on 14 Jul 2017. Snap’s share price has fallen dramatically in recent weeks, adding to its woes sourced from a lackluster Q1 earnings report. Snap now trades below its IPO price. Its declines are worrisome for other unicorns looking to defend private valuations in the public sphere. The venture capital sexual harassment scandal continued this week, with allegations leading to the ouster of Frank Artale from Ignition Partners. More on that, and a round-up of the rest of the mess here. Uber grew about 10 percent last quarter and is now working with a former competitor in Russia. If that sounds familiar, just repeat the word ‘China’ in your head about seven times until you recall. And, très surprise, WeWork raised more money. Because why not. What asset-light coworking startup shouldn’t be worth $20 billion, right?
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