10:20 PM
admin
Groupon has priced its IPO at $20 per share, offering 35 million shares, according to AllThingsD. That’s above the expected 30 million shares with a range of $16 -$18.
The offering is 10 times oversubscribed, reports AllThingsD’s Kara Swisher.
The deal would total $700 million, up from an expected $540 million.
Groupon’s IPO has been one of the most highly anticipated of the year. Groupon has been described (in this magazine and elsewhere) as the fastest growing company in history. But many observers have questioned the sustainability of the company’s daily deal business model. Concerns have included consumer fatigue with the daily email, personalization of offers, merchant concerns about generating repeat customers, and defensibility from the legions of clones. But investors appear to be happy to jump at the chance to own a piece of the company.
Original estimates pegged the IPO valuation at $25 to $30 billion, but the current estimate is $11 billion–though that could change between now and tomorrow. Groupon was criticized for its non-GAAPaccounting measure called Adjusted CSOI, which excluded the massive marketing costs the company had. It later dropped that as its featured metric.
Groupon is expected to trade on the NASDAQ tomorrow under the ticker “GRPN.”
See my magazine story on Groupon and other companies in the space here.
source: forbes.com
please give me comments thanks
Posted in: 
0 comments:
Post a Comment