Chicago – In a move anticipated since late last year, Chicago-based daily deals site Groupon on Thursday filed with the Securities and Exchange Commission (SEC) to raise up to $750 million in its initial public offering (IPO).
The company, which in December rebuffed a $6 billion takeover offer from Google, has yet to announce details of the offering, such as the number of shares or their expected price range.
It plans to trade under the symbol “GRPN.”
Launched in 2008, Groupon booked $644.7 million in revenue during the first quarter, taking a cut from the 28.1 million daily deals it sold in partnership with local and national merchants.
The company has approximately 83.1 million subscribers in 175 U.S. markets and 43 countries.
Morgan Stanley, Goldman Sacks and Credit Suisse will serve as underwriters.
Related Links:
http://tinyurl.com/3k9c49l
http://tinyurl.com/3wm93gp (SEC filing)
