Groupon has filed with the SEC to go public in a $750 million IPO underwritten by Morgan Stanley, Credit Suisse and Goldman Sachs.
The Chicago-based company’s proposed symbol is “GRPN,” and Morgan Stanley, Credit Suisse and Goldman Sachs are its bankers. Groupon shares will be offered by both the company and existing shareholders. The proceeds from the offering will be used for working capital and other general corporate purposes.
Summary of the Filing:
- Groupon has 83.1 million subscribers as of March 31, 2011. It had 152,203 on June 30, 2009.
- The company is in 175 North American markets and 43 countries.
- In Q1 2011, Groupon earned $644.7 million in revenue, but it still wasn’t enough to make Groupon profitable. It lost $102.7 million in Q1 2011.
- Groupon spent $179.5 million on online marketing in Q1 2011. That’s huge, especially when you compare it to the $245 million Groupon spent on online marketing for all of 2010. Essentially, the company spent around $6 per Groupon offer.
- Groupon has raised $1.12 billion so far in venture funding from a $6.8 million Series A, a $30 million Series B, a $135 million Series C and a $950 Series D.
- Groupon had $208.7 million in cash and cash equivalents on March 31, 2011.
- Groupon has paid $34.8 million for its acquisitions, not including CityDeal and QPod.