Groupon IPO back on track: report

Thu Sep 15, 2011 2:27pm EDT

An online coupon sent via email from Groupon is pictured on a laptop screen November 29, 2010 in Los Angeles. REUTERS/Fred Prouser

An online coupon sent via email from Groupon is pictured on a laptop screen November 29, 2010 in Los Angeles.

Credit: Reuters/Fred Prouser

(Reuters) - Groupon seeks to go public in October or November, people familiar with the matter told the New York Times on Wednesday, a week after the daily deals website put its IPO on hold for a few weeks as it waited to ride out global market turmoil.

The company, which had postponed a roadshow to attract potential investors early this month, could go ahead with the presentations by mid-October, sources told the NY Times.

The online coupon giant's Chief Executive Andrew Mason had earlier lashed out at critics in an internal memo to employees, which became public in August.

The IPO restart is being driven in part by a resolution between the company and the Securities and Exchange Commission over the memo, sources told the newspaper.

Groupon, which is among a clutch of Internet companies heading toward an IPO this year or next, including social games maker Zynga and Facebook, could again delay the stock sale and roadshow in case of another bout of market volatility, people briefed on the matter told the paper.

Groupon was not immediately available for comment.

(Reporting by Gowri Jayakumar in Bangalore; Editing by Muralikumar Anantharaman)

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Comments (1)
Groupon is consuming large amounts of cash. I do not think this will be a good company to invest in.

Sep 15, 2011 10:09am EDT  --  Report as abuse
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