Already a Bloomberg.com user?
Sign in with the same account.
Oct. 19 (Bloomberg) -- Groupon Inc., the largest online- coupon site, plans to begin marketing its initial public offering to investors before the end of October, three people with knowledge of the plans said.
Meetings could start as early as next week, said two of the people, who asked not to be identified because the discussions are private. Chicago-based Groupon is seeking as much as $750 million in its IPO, according to a June filing with the Securities and Exchange Commission.
Groupon delayed earlier plans to pitch the offering to investors in September amid stock-market swings, people familiar with the matter said at the time. The company also needed extra time to address regulators’ questions, including possible revisions to a controversial accounting method used in its filing, the people said.
Those events, combined with the loss of two chief operating officers in six months, have made investors wary and may force the company to pare back the size of its IPO. When Groupon met with underwriters earlier this year, the company’s potential valuation was said to be pegged at $25 billion.
Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse Group AG are leading Groupon’s offering.
All Things Digital, the technology blog, reported yesterday that Groupon plans to begin meeting with investors on Oct. 24 or Oct. 25.
--Editors: Marcus Chan, Tom Giles
To contact the reporters on this story: Douglas Macmillan in San Francisco at email@example.com; Lee Spears in New York at firstname.lastname@example.org; Serena Saitto in New York at email@example.com
To contact the editor responsible for this story: Tom Giles at firstname.lastname@example.org