Groupon Raises $700M In Largest Internet IPO Since Google

Despite all the recent bad press and company setbacks, Groupon still managed to raise $700 million in its initial public offering. According to the article, Groupon is now worth about $12.7B.

Groupon set its stock price at $20 a share, higher than even the most generous estimates of between $16 and $18 a share, reports Kara Swisher at AllThingsD. Due to massive demand for its stock, the company also decided to increase the number of shares in its IPO from 30 million to 35 million. At the $20 trading price, Groupon is now worth approximately $12.7 billion. The company, which will trade under the GRPN ticker on the Nasdaq, is only three years old.

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