Groupon ^[1] will abandon its use of a controversial financial measurement it was using to indicate performance, two sources told Reuters ^[2].

The daily deals website, which also doubled its number of subscribers to 115 million this year, will stop referring to a measurement called Adjusted Consolidated Segment Operating Income, a metric that excludes marketing costs. Groupon came under fire ^[3] by investors and the U.S. Securities and Exchange Commission for using this measurement, and it will amend its S-1 IPO documents to reflect its performance more accurately.

Groupon filed to raise $750 million in an IPO this year and remains one of the most anticipated IPOs of 2011. Reuters reported that though there is excitement surrounding Groupon’s IPO, there is also worry.

Social media firms like LinkedIn Corp have had spectacular debuts, stoking interest for offerings by the likes of Facebook and Twitter. But doubt is growing on Wall Street about whether the buzz surrounding the new Web generation is justified, with the hype recalling the atmosphere prior to the dotcom collapse of 2001.

That caution may have led some to question Groupon’s use of “ACSOI”, which excludes not just online marketing expenses but also stock-based compensation and acquisition-related items.

Read more at Reuters ^[2].