Groupon has announced plans to go public the first week in November. Although the Chicago-based deal giant had initially expected the IPO to be based on a $20 to $25 billion valuation, the projected valuation is now much lower.
Groupon is planning to sell 30 million shares, which represent less than five percent of the company, at a price point of $16 to $18 per share. The IPO is expected to raise approximately $478.8 million and implies a value of $10.1 billion to $11.4 billion. Even though the implied value will be drastically lower than initially planned, it is significantly higher than the $6 billion Google offered for Groupon late last year.
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