Groupon's stock closes up 31% on first day of trading
Groupon, the brash and much-criticized daily-deals pioneer, did it.
Shares of the 3-year-old Internet company closed at $26.11 today on the Nasdaq, a jump of more than 31 percent from its offering price of $20. That leaves Groupon with a market valuation of about $16.7 billion, almost three times the buyout offer from Google it rejected in December, and surely enough to reignite the debate of whether Bubble 2.0 is here.
Today's valuation makes Groupon nearly as big as Yahoo, 10 times the size of AOL, and more than 15 times the size of The New … Read more