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Groupon Plans To Raise $750 Million In IPO

Daily deals giant Groupon has filed for an initial public offering with the US Securities and Exchange Commission.

The company plans to raise up to $750 million from the IPO but could increase the limit as the IPO approaches.

Groupon is the second hot technology company to offer its IPO recently. Professional social networking platform LinkedIn recently launched its own, highly successful IPO. The company’s share price has risen from the $45 to $78.63 in a couple of days.

Groupon’s growth has been tremendous so far; the company has 83.1 million subscribers in 43 countries and has sold more than 70 million discount coupons.

"Today, we are pursuing models of reinvention that would not be possible without the critical mass of customers and merchants we have achieved," Groupon founder and Chief Executive Officer Andrew Mason wrote in a letter to potential investors in the IPO filing, PaidContent (opens in new tab) reports.

"Expect us to make ambitious bets on our future that distract us from our current business. Some bets we'll get right, and others we'll get wrong, but we think it's the only way to continuously build disruptive products," he continued.

Social gaming giant Zynga is expected to announce an IPO soon and Facebook could have an IPO sometime next year.