Groupon Files For $750 Million IPO
If you’ve been waiting to get a piece of the daily deals action, your time is near. Today, Groupon filed for an initial public offering. Groupon plans to raise $750 million with their offering, though that number is subject to change.
Morgan Stanley and Goldman Sachs are underwriting the IPO. Groupon did not indicate how many shares they plan to release, the price for each share or which exchange they plan to trade on.
Daily deal competition is on fire right now. Everyone wants in! Facebook, Yelp, Google and Amazon have all recently jumped on board with their own group bargaining services. Therefore, going public is critical for Groupon’s success. They need that $750 million to remain competitive amongst such big names.
Groupon has recently announced some great new services. Last month, they partnered with Live Nation to develop the Groupon Live ticket deals site. Today, they launched an Hourly Deals service in both San Francisco and New York City. Who knows what products and/or services they plan to introduce when they get their hands on that $750 million war chest! One thing is for sure, internet shoppers are about to see some serious bargains!
Check out this interview with Groupon CEO Andrew Mason