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|Friday, November 04, 2011|
Groupon shares jumped more than 50% to almost $31 in its public debut Friday, showing strong demand for a company whose business model is considered unsustainable by some analysts.
Chicago-based Groupon sends out frequent emails to subscribers offering discount deals on anything from laser hair removal to weekend getaways. The company takes a cut of what people pay and gives the rest to the merchant.
Though it spawned many copycats after its 2008 launch, Groupon has the advantage of being first. This has meant brand recognition and investor demand, as evidenced by its sizzling public stock debut.
Groupon is selling 5.5% of its available shares. Though not unprecedented, that amount of publicly traded stock is below the so-called "float" for many prominent tech companies, such as Google and more recently LinkedIn.
On Thursday, the company priced its IPO at $20 a share. That was above its expected range of $16 to $18. The IPO valued Groupon at $13.3 billion and raised $700 million.
With Friday's stock price jump, Groupon's value rose to more than $18 billion.
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Yesterday, a divided National Labor Relations Board dropped another hammer on the employer community. In a long-awaited and much debated move, the Board jettisoned the decades old standard for determining when two independent businesses should be considered joint employers of an individual worker for collective bargaining purposes.
Transforming the culture of Oregon’s educational leadership.
The Board dismissed a petition related to efforts to unionize the Northwestern University football team.
The Oregon Entrepreneurs Network (OEN) is pleased to announce 16 finalists — from over 60 nominees — for the 2015 OEN Tom Holce Entrepreneurship Awards.
Oregon Sick Leave is here, and changes to the federal white-collar worker regulations are on the way. This workshop will prepare you for both. We invite you to participate in an interactive discussion on how to start planning now for the future impact on your operations and finances.
Presented by OEN + CENTRL + YESpdx.