Groupon files for IPO of up to $750 million
Online coupon company Groupon Inc filed for an initial public offering on Thursday, the latest in a series of Internet companies to tap the U.S. capital markets.
The company filed to raise up to $750 million in its IPO. However, that figure is preliminary and could change.
In April, a source told Reuters that Groupon could raise as much as $1 billion in the IPO, which could value the fast-growing daily deals site at $15 billion to $20 billion.
A string of hot Internet companies including Facebook and Twitter have received multibillion-dollar valuations, raising questions about how these companies, albeit fast-growing, could justify the sky-high valuations.
Other Internet companies including LinkedIn Corp and China's Renren Inc have had strong IPO debuts in recent months, causing speculation that other companies would rush to follow.
Thursday's IPO filing 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."
Underwriters are being led by Morgan Stanley and Goldman Sachs
The company filed to raise up to $750 million in its IPO. However, that figure is preliminary and could change.
In April, a source told Reuters that Groupon could raise as much as $1 billion in the IPO, which could value the fast-growing daily deals site at $15 billion to $20 billion.
A string of hot Internet companies including Facebook and Twitter have received multibillion-dollar valuations, raising questions about how these companies, albeit fast-growing, could justify the sky-high valuations.
Other Internet companies including LinkedIn Corp and China's Renren Inc have had strong IPO debuts in recent months, causing speculation that other companies would rush to follow.
Thursday's IPO filing 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."
Underwriters are being led by Morgan Stanley and Goldman Sachs
