Groupon files for IPO

News Broadband Global 3 JUN 2011
Groupon files for IPO
Groupon filed for an initial public offering of shares. The daily deals site estimated proceeds from the offering at USD 750 million, but noted this was only to calculate the filing file with the SEC. It did not give further details on the number or price of shares to be sold. Groupon said it will use the net proceeds for working capital and other general corporate purposes, which may include acquisitions. The filing shows the company generated revenues of USD 644.7 million in the first quarter, up from just USD 44.2 million a year earlier. Operating profit rose to USD 387.1 million from USD 11.4 million, while the net result was a loss of USD 146.5 million, versus a profit of USD 8 million a year earlier. Groupon said it had 83.1 million subscribers at the end of March, up from 50.6 million three months earlier and just 3.4 million a year earlier. In the first quarter, the company sold 28.1 million deals, from 56,781 active merchants.

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Internet

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Groupon

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Global

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Shareholders & subsidiaries, Advertising services, Financial funding

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