7 tech revolutions that flopped

Groupon had an electrifying IPO, its shares soaring as high as $31.14 in November 2011. It has literally all been downhill from there for the stock.

The deaily deals company has never come close to sniffing $30 again, and shares fell as low as $2.60 a year later. The stock is now hovering at about $6.50.

As it turns out, the online daily deals thing might have just been a fad. Businesses said they didn't increase their business, and customers grew tired of seeing unappealing deals in their inboxes.

Nearly 800 daily deals sites shut down or merged with rivals in 2011, according to industry analysis group Daily Deal Media. In 2012, Amazon wrote off 97% of the value of LivingSocial, the Groupon competitor it invested in two years earlier.

Jokes about Groupon deals for the company's stock abound.