Groupon Plans New IPO

Groupon is reportedly in talks with financial institutions to roll out an initial public offering (IPO) in 2011.

Citing people familiar with the matter, Bloomberg reported that the company is talks with a number of securities firms to help it with the public offering, which may take place by the middle of the year.

The same sources also said that the company plans to launch the IPO in the middle of 2011 and is expected to choose from as many as six banks to supervise the sale.

The news comes just days after the company announced a $950 million round of funding which valued the company at $4.75 billion. The latest round of funding was led by Andreessen Horowitz, Greylock Partners and Kleiner Perkins Caufield & Byers.

The company, which recently turned down a $6 billion acquisition offer from Google, is planning on using the funding and the upcoming IPO to expand its operations internationally.

Groupon boasts around 50 million users and has inspired several new start-ups that are hoping to mimic the success enjoyed by the company.