Groupon’s making all the noise in social commerce today. It raised $700 million in the biggest tech IPO since Google’s, and then opened 40 percent higher than its $20 offering price that had already been raised. Business Insider’s Henry Blodget believes Groupon could eventually have a solid business, but he thinks it’s way over-valued. The daily deals space is in the middle of a big shakeout, but Groupon appears to be a survivor. If it can only figure out how to use all that data it’s collecting to create more marketing services for its merchants and raise the value and conversion rates of its offers, it might make some money. If only.