Snap Losses Top $110 Billion As Company Struggles To Live Up To ‘Show Me’ Moment

Snap shares plunged Wednesday as the Snapchat parent firm struggles to distinguish itself from other digital media companies, with the stock now down 88% from its 2021 high – and one bank warning Snap could soon test a four-year low.

$114.7 billion. That’s how much market capitalization Snap has shed since its valuation peaked at $131 billion in September 2021. Simultaneously stumbling is the net worth of Snap’s billionaire cofounder and CEO Evan Spiegel, shedding $199 million Wednesday to $2.7 billion, far less than Spiegel’s $11 billion fortune in 2021.

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