Three years ago, I remember talking to a friend who was leaving Wired, where I worked back then, as we walked to the metro. "What're you gonna do?" I asked. His train pulled up to the subway platform. Then, as he stepped aboard, he looked back at me, his tie stuck to his shirt by a messenger back strap. "Coupons, dude," he said. "Coupons." You know, I thought he was kidding for a year or two.
And while he himself didn't found Groupon, Andrew Mason did, and it's now grown into a monster that may suck up as much as $25 billion an initial public offering, according to a report in Bloomberg.
Coupons, dude. Bigger than Google's IPO.
Groupon Inc. has held talks with banks about an initial public offering that would value the online-coupon company at as much as $25 billion, according to two people with knowledge of the discussions.
The two-year-old startup's IPO may happen this year and is unlikely to assign Groupon a valuation of less than $15 billion, according to the people, Bloomberg Businessweek reports in its March 21 edition.
They asked not to be identified because the talks were private. Groupon, the top provider of online daily discounts, has pushed into hundreds of new cities and doubled its subscriber base over the past three months. That's helped its valuation soar since December, when it turned down a bid from Google Inc. (GOOG) for $6 billion. The company now has 70 million users and reaches more than 500 markets, up from 300 when Google made its offer.
Read the full story at Bloomberg.