Groupon files for $750m IPO

Chicago-based Groupon, the daily deal website which last year rejected a $6bn buyout offer from Google, has filed with the SEC to raise $750m in an initial public offering, the company said on Friday.
The IPO will be managed jointly by Morgan Stanley, Credit Suisse and Goldman Sachs, according to details of the filing.
The filing specified that shares would trade under the symbol ‘GRPN’ but did not detail how many shares are to be sold and at what price range.
The company, which offers discount vouchers for services and products such as restaurant meals, travel, spa treatments and numerous other services, saw sales rocket to $644.7m in Q1 compared to $44.2m a year earlier.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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