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Groupon Works Towards IPO in 2011

Internet discount coupon provider, Groupon Inc. may be working toward a potential public offering of its common shares by the end of 2011, according to a report in the New York Times.

Groupon is the Internet’s fastest growing online coupon seller and confirmed on Tuesday it has been authorized to raise up to $950 million in what would be the biggest round of equity financing by any company.

The company stated in a filing with the state of Delaware that it intended to sell shares at $31.59 each.

Groupon recently spurned a $6 billion takeover bid from Google and has attracted funding from several big investors, which include T. Rowe Price and Morgan Stanley.

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