If you think Groupon's online coupon idea will continue to be a surefire success against mounting competition, you'll have a chance to bet on it: The company filed paperwork for its much-anticipated initial public offering today, reports MarketWatch. Groupon plans to raise $750 million with its IPO and to trade under the ticker GRPN, notes the Wall Street Journal. It spurned Google's $6 billion offer last year for just this day.
Some relevant numbers:
- Revenue in this year's first quarter: $644.7 million; in last year's: $44.2 million.
- But Groupon recorded a $113.9 million net loss in the first quarter because of heavy spending on expansion and marketing.
- Groupon has deals with 57,000 local merchants in 43 countries.
- The number of subscribers in the first quarter rose to 83.1 million, up from 3.4 million last year, notes Bloomberg. The number of deals increased from 1.8 million to 28.1 million.
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