Shares in the company soared on their first day of trading, but that has more to do with technical factors than the underlying prospects for the business.
After a bumpy ride to its initial public offering, Groupon saw its share price jump as much as 56 percent almost immediately after the stock made its debut this morning. On paper, everything might seem to have worked out all right: Groupon raised $700 million. That will give the daily-deals website a bigger cushion as it continues its expensive method of marketing itself to businesses and consumers. The IPO also makes Groupon founder Andrew Mason the latest billionaire in the TR35. With the surge in the stock price Friday morning, the company as a whole was valued at about $18 billion. That’s way higher than the $6 billion Google offered for Groupon last year.