Tags: Groupon Files for IPO of 750 Million

Groupon Files for IPO With Initial Registration of $750 Million

Thursday, 02 Jun 2011 03:20 PM

Groupon Inc., the largest provider of online coupons, filed to raise $750 million in an initial public offering, giving shareholders a chance to bet on the burgeoning daily-deal market.

The IPO will be handled by Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse Group AG, according to the filing. The Chicago-based company, founded in 2008, will trade under the ticker GRPN.

Groupon has drawn increasing interest from Wall Street since December, when it decided to consider an IPO instead of accepting a $6 billion takeover bid from Google Inc. The company is riding a swelling tide of demand for daily coupons, which provide discounts of as much as 90 percent at local businesses such as restaurants, nail salons and clothing stores.

Groupon’s revenue surged to $644.7 million in the first quarter, a 14-fold increase from $44.2 million a year earlier. The company recorded a $113.9 million net loss in the period, because of a $208 million marketing expense and $178.9 million in selling, general and administrative costs.

Subscribers increased to 83.1 million in the first quarter from 3.4 million a year earlier, and the number of deals sold jumped to 28.1 million from 1.8 million. While Groupon leads the market, it faces increasing competition from LivingSocial and hundreds of upstart rivals.

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Groupon Inc., the largest provider of online coupons, filed to raise $750 million in an initial public offering, giving shareholders a chance to bet on the burgeoning daily-deal market. The IPO will be handled by Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse...
Groupon Files for IPO of 750 Million
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2011-20-02
Thursday, 02 Jun 2011 03:20 PM
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