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Snap, Blue Apron fuel worries about overheated IPOs

FILE PHOTO: The Blue Apron logo is pictured ahead of the company's IPO on the New York Stock Exchange in New York, U.S., June 29, 2017.

Lucas Jackson/File Photo

NEW YORK/SAN FRANCISCO (Reuters) - Snap Inc and Blue Apron Holdings Inc's dismal quarterly reports on Thursday, which sent their shares slumping, join a growing list of technology startups failing to live up to sky-high expectations set ahead of their initial public offerings.

There are growing concerns in Silicon Valley that the dominance of Alphabet Inc's Google, Facebook Inc, Apple Inc and Amazon.com Inc are beginning to squeeze the life out of the startup economy, and even large would-be challengers, including Snap and Twitter Inc, are struggling to maintain growth.

Snap, the owner of Snapchat, dropped 17 percent in extended trade after its second quarterly report as a publicly listed company missed Wall Street's estimates and added to fears the social media company is...


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