$27.93: The print of the first trade for Groupon shares in its market debut.
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That opening price was a 40% jump over the Nasdaq-listed IPO of $20 a share.
Groupon raised $700 million after increasing the size of the offer, making this the biggest Internet debut since Google raised $1.7 billion in 2004.
Groupon is now valued at around $13 billion, which is double the price it was offered when Google tried to buy it last year.
But this latest star on the internet IPO stage is facing much scrutiny.
Leading up to the IPO, analysts have wondered how Groupon, with its daily deals on everything from haircuts to restaurants, can fight off competition. Especially from well established tech giants like Amazon and Google.
And there’s also some concerns about the books and the way it accounts for revenues. Some say at nearly $13 billion – Groupon’s market value is too expensive, right out of the gate.
But early investors still want to buy in.
Bottom line: Shares of group buying website, Groupon, surged as much as 50% in their initial post-IPO trades, but doubts about the business model still linger.