Groupon IPO Raises $700 Million


Groupon, the daily deals service/e-mail spam supplier (depending on your penchant for coupons), became the largest IPO by an Internet company since Google today, raising $700 million. The company made 35 million shares available in all, at $20 each, representing just more than 5 percent of the company’s $13 billion valuation, leading some experts to wonder if the low supply is the only thing keeping the company’s worth looking good. The company begins trading on the NASDAQ today with the ticker GRPN after a bumpy IPO filing that saw CEO Andrew Mason get a little sensitive at times. So he won’t much like the IPO researchers calling the deal risky. Says one: “It’s maybe a good trade for a day trader, in and out in a single day, but I don’t want to be in it for the long run.”

Groupon raises $700 million in massive IPO [Reuters]