Groupon reevaluating IPO: report

Reuters News
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Posted: Sep 06, 2011 3:24 PM

SAN FRANCISCO (Reuters) - Daily deals website Groupon has called off an IPO roadshow slated for next week because of market volatility, the Wall Street Journal reported on Tuesday.

The Internet coupons site headed by Andrew Mason is not canceling its IPO, but the company is reassessing the timing for an offering on a week-by-week basis, the newspaper added, citing an unidentified person familiar with the matter.

Groupon was planning on an IPO in mid-September and had set up a roadshow next week to attract potential investors to the offering.

Groupon has also received questions from the Securities and Exchange Commission about a memo Mason sent to employees that was widely reported in the media, in which the CEO blasted critics in the press and on Wall Street for questioning its track record and growth strategy.

Analysts say Groupon's IPO plans has been dented by a stock market slump and new financial disclosures that suggest the daily-deal company's business is slowing in North America.

A Groupon spokesman declined to comment.

(Reporting by Alistair Barr; editing by Andre Grenon)