In case you've wondered it feels good to be a banker — at least one working for Groupon. Dealbook reports that last week, Groupon sold $700 million shares in its initial public offering , becoming the largest I.P.O. for an American tech company since Google went public in 2004. Shares surged 40 percent at the open, before settling at $26 a share, or a valuation of $16.5 billion. Its underwriters, led by Morgan Stanley, Goldman Sachs and Credit Suisse, had the option to sell an additional 4.5 million shares.
The highly anticipated offering was a big win for the company’s management team and its early investors, including its venture capital backers, Accel Partners and New Enterprise Associates. But it was also a nice pay day for the company’s many underwriters (14 in total), who racked up $42 million in fees, led by Morgan Stanley, which made a tidy sum of $17.4 million….
Read more at http://dealbook.nytimes.com/2011/11/08/bankers-reap-windfall-in-groupon-i-p-o/
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