Snap, Blue Apron IPO duds underscore hyper private valuations

A man skateboards past a Snapchat Spectacles by Snap Inc. vending machine pop-up store in the Venice neighborhood of Los Angeles, California, U.S., on Tuesday, March 14, 2017. Photographer: Patrick T. Fallon/Bloomberg

Snap Inc. and Blue Apron Holdings Inc. have swiftly gone from two of the year’s most anticipated IPOs to poster children for companies whose rich private valuations haven’t withstood the scrutiny of public markets.

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