Groupon is going ahead with its IPO plans, and will launch its official roadshow to drum up interest next week, sources tell Reuters. The move comes despite recent turmoil in the stock market and questions about Groupon’s own accounting practices. The IPO is expected to value the company at more than $10 billion. That’s about half of what it was expected to be before the summer’s stock slump, but some are still skeptical about the figure.
The company has come under fire since a memo leaked this August revealed financial information that had been left off the firm’s IPO filings. Last month, it suffered another blow when its chief operating officer left for Google. “The Groupon story is no longer so compelling,” says one researcher. “They have always thought that the company is the only one out there doing what it does and that this warrants a high valuation. But they are in denial.” (Read more Groupon stories.)