Groupon chief executive Andrew Mason was at Nasdaq with his fiancee, Jenny Gillespie, yesterday for the company’s IPO.
(Reuters/Brendan Mcdermid)
Doubts remain on Groupon, despite big IPO
Market value approaches $17 billion, but analysts concerned about risks
Groupon chief executive Andrew Mason was at Nasdaq with his fiancee, Jenny Gillespie, yesterday for the company’s IPO.
(Reuters/Brendan Mcdermid)
Groupon’s stock sizzled in its public debut Friday despite concerns about the Internet company’s accounting practices before an initial public offering and doubts about the viability of its business model. The first-day pop for the pioneer of online group discounts was largely expected. But not even a gain of about $4 billion in market value - to nearly $17 billion - could erase lingering questions about its long-term prospects.
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