Groupon to postpone IPO, sources say. Is it because of the volatile market or Groupon's personal woes?

by Techvibes NewsDesk

Daily deals startup Groupon is going to postpone its IPO, according to anonymous sources, the Wall Street Journal reports.

The company's management decided that the stock market's ongoing volatility is too much for Groupon to stomach, although some may argue its because of Groupon's legal issues and financial troubles.

The fastest growing company ever (according to Forbes), Groupon filed for its IPO in June. It was set to be $750 million, valuing the company at $20-billion or more. Google offered to buy the company for $6 billion in 2010 but was turned down. Groupon is accumulating many millions in losses while it aggresively builds its user base.

Zynga, maker of Farmville and Mafia Wars among other popular games, has also delayed its IPO due to market chaos.

Chicago, Illinois, United States

Launched in November 2008, Groupon features a daily deal on the best stuff to do, see, eat, and buy in a variety of cities across the United States. We have about 200 wonderful people working in our Chicago office (a handful of whom you can see to your right), along with a smattering of people in Groupon's other cities. Our company philosophy is pretty simple: we treat our customers the way we... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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