Groupon to raise up to $540 million in IPO

Group buying pioneer Groupon has updated its filing with the SEC to show it plans to raise between $US480 and $US540 in its upcoming float. The new filing shows the company plans to sell 30 million shares at between $16-18, giving the firm a possible valuation of $US11 billion. Chief executive Andrew Mason is now […]

Patrick Stafford 23 October, 2011

Group buying pioneer Groupon has updated its filing with the SEC to show it plans to raise between $US480 and $US540 in its upcoming float.

The new filing shows the company plans to sell 30 million shares at between $16-18, giving the firm a possible valuation of $US11 billion.

Chief executive Andrew Mason is now said to be speaking with a number of different investors this week as the company prepares for its IPO.

The documents also show that Groupon is now coming closer to being profitable, which will attract investors who fear the company is spending too much money on marketing.

The company was forced to change a number of details in its filing, with reports suggesting the SEC had concerns with how it presented some of its information.