Groupon achieved the biggest IPO since Google in 2004.
4 November 2011 | Category: Online
The group buying discount website raised more than $700 million in its initial public share offering. Groupon sold 35 million shares at $20 each, which makes it the biggest IPO since Google in 2004.
Despite the huge evaluation of the company, the Chicago based business has faced a number of challenges in recent months.
Growing pressures from competitors such as LivingSocial and Google has led to the business accepting lower profit margins with merchants as it seeks to keep its discounts competitive. It has also been hit with various internal problems.
Groupon has 145 million subscribers and is believed to have sold more than 33 million daily deals.
Groupon is now expected to make its trading debut on the NASDAQ Stock Market this Friday.