Have you heard that daily deal juggernaut Groupon filed for an initial public offering? Of course you have — but what recently came to light is the price. The Chicago-based company filed to raise up to $750 million in its IPO, and documents filed with the SEC show a company with truly impressive growth–$713 million in revenue in 2010, up from $30 million in 2009–but still no profit.
Despite a whopping $644.7 million in revenue from its 83 million subscribers during the first quarter of 2011 alone, Groupon posted a $103 million loss for the same period (the company posted a $389.6 million net loss in 2010). However, it should be noted that the company has invested heavily, to the tune of almost $180 million during the first three months of 2011, in marketing initiatives aimed at attracting new subscribers.
The IPO sets up a valuation for Groupon in the $15-20 million range; the company plans to trade under the ticker symbol “GRPN”, but has yet to disclose which exchange will list the shares.
Read more at CNN Money.