Groupon Hires Goldman Sachs and Morgan Stanley As Lead Underwriters For IPO
Groupon Inc. has hired Goldman Sachs and Morgan Stanley as the lead underwriters for an IPO that they are planning for later this year according to sources with The Wall Street Journal. Groupon is expected to be valued at between $15 and $20 billion when the company goes IPO. JP Morgan Chase & Co. is expected to be a co-manager for the IPO according to the same sources.
The IPO is planned for the second half of 2011. Groupon was founded in 2008. They turn down a $6 billion offer from Google last year and raised $950 million in funding immediately after. Groupon employs 6,000 people across the globe. Groupon promotes deals for local venues through daily e-mails and they collect 50% of every sale.
[WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry