Daily deals site Groupon is planning on pricing its initial public offering (IPO) Thursday and will officially become a public company Friday, listing on Nasdaq under the ticker symbol "GRPN," sources said.
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The company and its investment bankers have not yet decided whether to boost the price of the offering, now aimed to raise $540 million at a valuation of $11.4 billion.
Although the Chicago-based Groupon has endured an unusual amount of controversy over a variety of issues -- including accounting treatments, executive turmoil and growth prospects -- sources said the offering is likely to be oversubscribed as investors clamor to get into a possibly lucrative IPO.
Executives from Groupon, including its CEO Andrew Mason, have been hawking the company -- which sells an assortment of discounted services from a variety of local merchants -- to investors all over the country.