Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Daily deals pioneer Groupon has priced its initial public offering at $20 per share.
That's above its expected range of $16 to $18 a share, indicating investors are eager to snap up its stock.
This price gives Chicago-based Groupon Inc. a market value of $12.7 billion. That makes Groupon the biggest technology IPO since Google Iwent public in 2004.
The stock is expected to begin trading publicly Friday under the symbol "GRPN."
Groupon is offering a small fraction of its stock to the public, just 4.7 percent. That is below the percentage that many prominent tech companies have offered.
The company has had a rocky road to its IPO. It drew scrutiny from the SEC for the way it counted revenue. And rival companies have popped up left and right.