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Groupon raises US$700 million by going public
Groupon raised US$700 million in its initial public offering (IPO) becoming the largest IPO by an Internet company since Google raised US$17 billion with its listing in 2004, according to an article published by Business Day.
Groupon is valued at US$13 billion and it issued 35 million shares at US$20 each. The company sells daily coupons for everything from spa treatments to teeth whitening services.
However, according to the Business Day report, some analysts have warned that while the company has been valued at US$13 billion the shares may prove volatile because of Groupon's ability to generate long-term profits and revenue growth using the coupon business model.
The company has permission to market to 150 million consumers around the world every day.
For more:
- Business Day: Groupon raises $700 million in biggest Internet IPO since Google
- Groupon: The Groupon group
