When Groupon turned down offers from Yahoo and Google last year it stirred a buzz that had people, myself included, wondering what they know that we don't. Founded in 2008, Groupon secures incredible deals on everything from pedicures to flight lessons by negotiating a "group" discount our their members' behalf. They target vendors of high-quality products or services and get them to commit to as much as 80% off in exchange for some new, potential customers.
Last year Google made an offer that was valued at $6 billion but it could not snatch Groupon, even at a price that seems so absurd for most. How many of you would turn down six billion dollars for a company you started only two years prior? Many speculated whether Groupon owners were in it for the money, or were they more interested in building a new platform for consumers. Well it seems like they were holding off for bigger things for sure. According to an article posted by The Wall Street Journal today, Groupon is in the process for nailing down Goldman Sachs and Morgan Stanley as its underwriters for a planned IPO to come later this year. The IPO is expected to value Groupon between $15 billion and $20 billion. Excuse me!
"I am opposed to millionaires, but it would be dangerous to offer me the position." ~Mark Twain