How’s this for a happy Thanksgiving present? Groupon’s stock price sank Wednesday to the lowest point since its initial public offering earlier this month, closing at $16.96 a share, well below its $20 IPO share price — sparking pre-holiday buzz (and Schadenfreude) in tech and finance circles.
It’s confirmed: Groupon has set the final price for its impending initial public offering on Friday at $20 per share, giving the company a total market capitalization of $12.6 billion. That’s higher than the Chicago-based daily deal website’s previous planned share price of $16 to $18.
Groupon is set to make its debut on the stock market any day now, with several reports saying the IPO will take place by week’s end. But some analysts say that Groupon does not deserve the $11 billion valuation at which it’s set to debut.
Reports of the death of Groupon’s IPO plans have apparently been greatly exaggerated. The online daily deals pioneer filed an updated version of its S-1 document with the SEC Friday, as part of its preparation for an initial public offering of its stock.
Andrew Mason has said that “Life is too short to be a boring company” — and his company Groupon continues to deliver the goods. The daily deals giant has filed an updated S-1 as part of its IPO preparation, and the document is not short on surprises.
The summer of the tech S-1 continues: CafePress has filed documents with the Securities and Exchange Commission to raise up to $80 million in an IPO. The S-1 reveals the e-commerce company made $2.7 million in net income on $128 million in revenues in 2010.