|Groupon shares jump 50%||| Print ||
|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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Oregon Business magazine's 5th annual
100 Best Green Companies to Work For in Oregon
Wednesday, May 29, 2013
From Oregon Translational Research and Development Institute: OTRADI today announced its plans to open and operate a 13,000 square-foot multi-tenant bioscience complex in the Willamette Wharf building at 4640 SW Macadam Avenue. Slated to be complete in spring 2013, the OTRADI Bioscience Incubator (OBI) will house up to six companies.
MEDIAmerica, publisher of Oregon Business and Oregon Home magazines, announces a new retail website: HalfOffOregon.com. The website offers lodging, dining, recreation and many other items at half off their regular cost.
As you probably know by now, The Vernon Company is a national leader in the promotional products industry with annual sales of over $60 million. We are a family owned business, led by the fourth generation of the Vernon family.