The year tech unicorns became donkeys

WeWork lost US$40bil in value before its IPo.— reuters

The year 2019 may be remembered as the year so many unicorns turned into donkeys.

After its IPO, Uber fell from the stratospheric valuation it commanded as a private company. So did its prime competitor, Lyft - together, they have shed more than US$40bil in value since going public. Even more spectacularly, WeWork lost US$40bil in value before its IPO. African e-commerce darling, Jumia, rode into public markets on high expectations but lost half its value within six months.