Only a few months ago, Groupon was the Internet's next great thing. Business media christened it the fastest growing company ever. Copycats proliferated. And investors salivated over the prospect of Groupon going public. Today, the startup that pioneered online daily deals for coupons is an example of how fast an Internet darling can fall.
Groupon is discounting its expectations for the IPO that in June was valued as high as $25 billion. In a regulatory filing Friday, the company said that it expects a valuation that is less than half that at between $10.1 billion and $11.4 billion.
It's the latest twist for the Groupon IPO, which was one of the most anticipated offerings this year. In June, after Groupon filed for the offering, the SEC raised concerns about the way it counts revenue. Then the stock market plunged….
Find out more at http://www.csmonitor.com/Business/Latest-News-Wires/2011/1023/Groupon-IPO-An-Internet-star-falls-to-Earth
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