Groupon just filed an S-1 with the SEC in order to raise $750 million in an IPO.
In an upset, Morgan Stanley and not Goldman Sachs will lead the underwriting of the IPO.
THE CRUCIAL DETAILS:
- Groupon lost $413 million in 2010.
- 2010 revenues totaled $713 million.
- Groupon’s first quarter 2011 revenues reached $645 million.
- Groupon’s international business accounted for 37.2%, or $265 million, of the company’s total revenues in 2010.
- In 2010 and the first quarter of 2011, Groupon spent $241.5 million and $179.9 million, respectively, on online marketing initiatives relating to subscriber acquisition.
- Groupon counts customer acquisition costs as a capital investment. This kind of “hair” on Demand Media’s IPO didn’t slow that one down, though.