The Tribune is reporting that Groupon, one of several thousand companies that strikes deals with vendors, has scaled back its IPO:
The size of the sale, expected to be completed in the next two weeks, could be $500 million to $700 million under plans to be disclosed in advance of the company's roadshow beginning in the next few days, the people said. The size is meant to cut the amount of stock being sold at what may be a knock-down valuation, in hopes that more shares can be sold later at higher prices.
Although valuations of $20 billion to $30 billion were bandied about by outsiders at the time the company filed its plans to go public in May, the current goal of less than half that reflects the reality that the IPO window was closed for nearly two months between mid-August and mid-October because of overall stock-market weakness, and missteps by the company itself.
Amazon, Living Social, Google, and others of Groupon's competitors could not be reached for comment.