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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Anthony insisted nanny took girl, even after admitting lies 3:16pm EDT Pyramid tossed, dinner plate is new U.S. meals plan 2:46pm EDT Moody's may cut BofA, Citi, Wells ratings 4:25pm EDT Romney kicks off presidential bid, blasts Obama 2:28pm EDT Google reveals Gmail hacking, says likely from China | 8:08am EDT Discussed 70 150 economists back U.S. Republicans in debt fight 52 Air France jet crashed nose-up after 4 minute ordeal 39 Debt-limit hike fails in House in symbolic vote Watched Tornado hits Springfield, Massachusetts 2:43am EDT Massive Australian waterspout caught on film Mon, May 30 2011 Scientists revive ancient spider in stunning 3D detail Tue, May 24 2011 Groupon files for IPO of up to $750 million Tweet Share this Email Print Factbox Factbox: Russia's Yandex ups pricing of Nasdaq IPO Tue, May 24 2011 Related News Spirit Airlines shares fall in Nasdaq debut Thu, May 26 2011 UPDATE 5-Tesla Motors plans share sale to raise $214 mln Wed, May 25 2011 Social phenom Zynga on cusp of mega IPO: report Wed, May 25 2011 Search engine Yandex up 55 percent on debut Tue, May 24 2011 Analysis & Opinion Groupon’s Andrew Mason demonstrates how to stonewall Deals wrap: Glencore disappoints while Yandex confirms price Related Topics Technology » Deals » Global Deals Data 2011 Q1 » Personal Finance » Media » An online coupon sent via email from Groupon is pictured on a laptop screen November 29, 2010 in Los Angeles. Credit: Reuters/Fred Prouser NEW YORK | Thu Jun 2, 2011 4:24pm EDT NEW YORK (Reuters) - Groupon Inc, the online daily coupon site, has filed for an initial public offering, capitalizing on investor infatuation with social media companies that have yet to prove they are the real deal. The company filed to raise up to $750 million in its IPO, an offering that has been widely speculated about for months and comes hard on the heels of a number of hot technology debuts. Other Internet companies including LinkedIn Corp and China's Renren Inc have had strong IPO premieres in recent months, causing speculation that other companies would rush to follow. A string of hot Internet companies including Facebook and Twitter have received multibillion-dollar valuations, raising questions about how these companies, albeit fast-growing, could justify the sky-high valuations. "As with any business in a 30-month-old industry, the path to success will have twists and turns, moments of brilliance and other moments of sheer stupidity," Groupon Chief Executive Andrew Mason said in a letter to potential stockholders that was attached to the filing. Thursday's IPO filing did not specify the number of shares to be sold in the IPO, the price range, or the exchange, though it did say the shares would trade under the symbol "GRPN." It also said the $750 million figure is preliminary and could change. Founded in November 2008 by Mason, a young and brash entrepreneur who majored in music at Northwestern University, Groupon offers members discounts on everything from meals at restaurants to sky-diving excursions. The "group" part of the name refers to the fact that many of the deals are activated only when a certain number of people sign up for them. Groupon takes a commission from the merchants that provide the services, and in the first three months of the year its revenue totaled $644.7 million. But it incurred a net loss in the period of $102.7 million, as it spent heavily to expand, both by acquiring customers and by signing up merchants. "Groupon's had a lot of success in its early stages, but the model of group buying has limited barriers to entry and it's being replicated," said BCG Partners analyst Colin Gillis, pointing to up-and-coming competitors like LivingSocial. In April, a source told Reuters that Groupon could raise as much as $1 billion in the IPO, which could value the fast-growing daily deals site at $15 billion to $20 billion. Underwriters on the IPO are Morgan Stanley, Goldman Sachs and Credit Suisse. (Reporting by Clare Baldwin, Jennifer Saba and Phil Wahba; Editing by Gary Hill) Technology Deals Global Deals Data 2011 Q1 Personal Finance Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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