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Groupon files papers for IPO up to 750 million dollars

06-03-2011 09:49 BJT

NEW YORK, June 2 (Xinhua) -- Groupon, a deal-of-the-day website that features discounted gift certificates usable at local or national companies, filed papers for IPO up to 750 million dollars on Thursday.

The Chicago-based company announced on Thursday that it had filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission, planning to raise 750 million dollars.

The company had a revenue of 644.7 million dollars and gross profit of 270 million dollars in the first quarter of 2011. It had 83.1 million subscribers in the first quarter of 2011, with 7,107 employees at the same time.

Morgan Stanley, Credit Suisse and Goldman Sachs were to be the leading underwriters this time. The company will be traded under the symbol of GRPN.

Editor:Yang Jie |Source: Xinhua

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