IPO fever continues to spread through the ranks of technology companies. The latest to catch the bug is Groupon, which today announced that it plans to raise up to $750 million through an initial public offering. The filing comes just a few months after the Chicago daily deal site spurned a $6 billion offer from Google, which happened to announce its own daily deal site yesterday for Portland.
Groupon boasts 7,000 employees and more than 83 million subscribers in 43 countries, an amazing achievement for the young company. It also generated revenue of $644 million during the first quarter. But it is still losing money, posting a net loss of $102 million for that period and has an accumulated deficit of $522 million.
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