Mister Spex
- 🦄Became a unicorn2021
- 📈Peak valuation$1 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$50M
How it happened
Mister Spex is a German online eyewear retailer — selling prescription glasses, sunglasses and contact lenses, with a hybrid of e-commerce and physical stores. It went public on the Frankfurt Stock Exchange in July 2021, raising €375M at a roughly $1B valuation that made it 'officially a unicorn.' Demand normalized after the pandemic, losses persisted and a costly store-rollout strategy weighed on the business; the stock collapsed more than 95%, leaving Mister Spex worth under $50M — a tiny fraction of its debut, even as a strategic investor took a stake.
Source: HTGF / Jones Day / stockanalysis (€375M Frankfurt IPO July 2021 at €25/share, ~$1B valuation 'officially a unicorn'; ~$45-49M market cap by mid-2026, -95%+; The Platform Group took a stake)
