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Groupon files for up to $750m IPO
DISCOUNTING website Groupon has filed for an initial public offering on the New York Stock Exchange to raise up to $750m (£457m).
Hot on the heels of business networking site LinkedIn, Groupon is exploiting the booming demand for internet companies on US capital markets – and their consequent high valuations.
Groupon launched only in 2008 but in April, sources said it could be worth up to $15-20bn, and indicated it wanted to raise up to $1bn on the public market.
The IPO filing today did not specify the number of shares to be sold in the IPO, the price range, or the exchange, though it did say the shares would trade under the symbol GRPN.
Morgan Stanley and Goldman Sachs are the lead underwriters on the IPO.