Feeds

Groupon follows LinkedIn with IPO

Here we go again

  • alert
  • submit to reddit

High performance access to file storage

Six months after it rejected a $6bn takeover offer from Google, Groupon has filed for an IPO. The Chicago-based company – which sells coupons for discounted goods and services from local merchants – hopes to raise $750m.

According to an SEC filing, Groupon's revenues topped $644.7m in the first quarter of 2011, up from $44.2m in the same quarter last year. That $644.7m figure nearly matches the company's revenues for all of 2010 ($713.3m).

Groupon says that it has agreements with almost 57,000 local merchants in 43 different countries, and that in Q1 it sold 28.1 million coupons. But in Q1, the company was still $102.7m in the red, thanks to some serious cash spent on marketing and expanding its sales force. Its net loss in 2010 was $389.6 million.

Suddenly, it feels like the 90s again. Two weeks ago, professional social networking outfit LinkedIn went public at $45 per share, and its stock soared to over $120 before settling down to around $80. Zynga, the online gaming outfit that has made a name for itself atop Facebook, is expected to file for an IPO this month.

According to reports, Groupon's valuation could be as high $25bn, which would dwarf Google's $6bn offer. But the company could face tougher times ahead. Since failing in its bid to buy Groupon, Google has launched its own daily deals services. As have Facebook and Amazon. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.