Groupon raises $700m in biggest tech IPO since Google

07/11/2011

Daily deals site Groupon has raised $700m after increasing the size of its initial public offering, becoming the largest IPO by an internet company since Google in 2004. Groupon has made it trading debut on the Nasdaq Stock Market under the ticker symbol "GRPN." The float follows other high-profile technology firms offering shares to the public this year, including LinkedIn, Russian search engine Yandex and Japenese social network RenRen, which all floated on the Nasdaq exchange.

07/11/2011

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The IPO's price gives based Groupon a market value of $12.7 billion. That makes Groupon's IPO the second largest by an Internet company behind only that of Google Inc. in 2004.

The online search leader made its public debut at a market cap of $23.1 billion seven years ago.

In comparison, LinkedIn went public in May with a market value of $4.3 billion and was worth $8.4 billion at the end of trading Thursday.

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