Jay Leonard
After a recent announcement that it had raised $950 million in funding, Groupon Inc. has suggested that it is considering an IPO later this year. Several sources have confirmed that the company, which is the largest coupon website, is in meetings with several interested securities firms.
Groupon Inc. was founded in 2008 and its services are utilized by more than 50 million users. It offers daily discounts up to as much as 90% from clothing stores, restaurants, and more. The company does retain a portion of the revenue. Bloomberg reports that Groupon allegedly generated over $500 million in sales last year. Also last year, the company stirred up some commotion when it turned down a $6 billion takeover by Google Inc.
Buzz about IPO came after Groupon announced a $950 million round of funding. The financing is valued at $4.75 billion and has caught the attention of venture firms like Andreessen Horowitz, Greylock Partners, and Kleiner Perkins Caufield & Byers.
Coupled with Groupon’s positive record, who wouldn’t think to steal a curious glance at the company? As reported by Dealbook, Groupon raised nearly $1 billion this week from large investors and recently reported annual revenue of over $1 billion. As the company discusses its IPO considerations, sources contacting Bloomberg suggested that it may come as soon as mid-year.
This article was written for Business 2 Community by Jay Leonard.
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Groupon is doomed. It’s basically, to me, simply an online/mobile version of Valpak with horrible deals that people really don’t need. Consumers will wise up sooner rather than later and post-IPO it could be a real problem going forward.
http://mankabros.com/onmedea/2011/01/the_trouble_with_groupon.html