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Groupon raises $700M with IPO at $20 per share

Groupon raises $700M with IPO at $20 per share

Groupon, the company that pioneered online group discounts, saw its stock climb by nearly a third in its public debut Friday, showing strong demand for an Internet company whose business model is considered unsustainable by some analysts. Groupon's stock jumped $6.40, or 32 percent, to $26.40 in late morning Friday after trading began at about 10:45 a.m. Earlier, the stock was trading as high as $31.14. Big fluctuations are common for companies that have just gone public as investors gauge what to do with the stock. The stock is trading on the Nasdaq Stock Market under the ticker symbol "GRPN."

Senh: I guess investors aren't heeding the advice of analysts who thinks the business model isn't sustainable. I just hope they and other recent internet ipos don't fail and start another bubble.

 

Groupon IPO on hold as SEC questions remain

Groupon is going to wait at least a couple of weeks before launching the final phase of its initial public offering because regulators still have questions for the daily deals website and the stock market is too volatile, a person familiar with the situation said on Tuesday.

 

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