Tuesday, May 28, 2024

Groupon’s IPO Sets Highest Tech Valuation Since Google

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San Jose Mercury News: In its initial public offering (IPO), online daily deal company Groupon sold 35 million shares — about 5.5 percent of the company — for $20 each. That puts the total valuation of the company at $12.7 billion, the second highest value for a tech company IPO in history. (Number one was Google, which was valued at $23.1 billion when it went public in 2004.)

In its first day of trading, shares for Groupon opened 40 percent higher than the IPO price and continued rising during the early part of the day.

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