This feels like death by IPO. They’ve signaled that both the public and private market aren’t interested. Now they have to choose to stay private and keep contr

This feels like death by IPO. They’ve signaled that both the public and private market aren’t interested. Now they have to choose to stay private and keep control, or go public and raise 80% less than initially planned, while giving away control. The best move (in hindsight) would have been not to try to IPO. Have there been other examples of companies getting gutted by their IPO efforts? (Another interpretation would be that they are a real estate company trying to pass for a tech company and everyone called their bluff).