Dangdang
- 🦄Became a unicorn2010
- 📈Peak valuation$3 Billion ’10
- 💔Became a Unitard2011
- 💸Last valuation~$540M
How it happened
Dangdang was China's pioneering online bookseller-turned-marketplace, often called the country's answer to Amazon, and in November 2010 became the first Chinese e-commerce company to list on the New York Stock Exchange — its shares nearly doubling on debut to a market value around $3B. But it was quickly out-muscled by Alibaba and JD.com, posted years of weak growth, and became one of the worst-performing Chinese tech stocks on record. Co-founders Li Guoqing and Peggy Yu took the company private in 2016 in a deal valuing it at just ~$556M, and later waged a very public battle for control of the shrunken business.
Source: Caixin / CGTN / Wikipedia (China's e-commerce pioneer and first Chinese e-commerce firm to list in the US; Nov 2010 NYSE IPO that surged on its first day to a market value around $3B; among the worst-performing Chinese tech stocks thereafter; taken private in 2016 valuing it at ~$556M)
