Groupon shares jump as company looking to sell itself: Report

Groupon’s shares were rallying Monday morning, following a weekend report by Recode that the company has been searching for potential buyers over the past month.

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TickerSecurityLastChangeChange %
GRPNGROUPON INC.2.75-0.09-3.17%

The company, which offers customers daily deals, along with its bankers have not found a buyer, while the reason behind the push to sell is currently unknown.

Groupon, was valued at around $16 billion when it listed on the Nasdaq Composite in 2011. The company has struggled, but was able to post annual profits last year for the first time in three years.

The company has a market cap of around $2.46 billion.