Snap, Blue Apron Fall Flat as Incumbents Smash the Upstarts
Bloomberg’s Giles Turner discusses the earnings and outlook from Snap. He speaks with Francine Lacqua on 'Bloomberg Surveillance.' (Source: Bloomberg)
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Snap Inc. and Blue Apron Holdings Inc. are learning it’s hard to make the case to public markets that you’re the scrappy, young disrupter of large incumbents when your own user growth is slowing.
The two companies reported disappointing earnings Thursday, sending their newly public shares plummeting. Both initially lured investors with niche products and rapid user growth, but the narratives have been dashed by behemoth competition -- Facebook Inc. in the case of Snap and Amazon.com Inc. for Blue Apron.