CHICAGO – Daily deals juggernaut Groupon Inc. has filed a prospectus for an initial public offering of up to $750 million, ending months of speculation about when the Chicago-based company would go public.
“While we’re looking forward to being a public company, we intend to continue operating according to the long-term focused principles that have gotten us to this point,” founder and Chief Executive Andrew Mason said in a letter to “potential stockholders” that was part of a filing Thursday with the U.S. Securities and Exchange Commission.
The prospectus offered the first detailed public glimpse at Groupon’s operations and finances. The company had $644.7 million in revenue in the first quarter of 2011 but posted a net loss of $147 million. In 2010, revenue was $713 million and the company recorded a net loss of $456 million.
Groupon is in 175 North American markets and 43 countries, as of the end of March, and has 83.1 million subscribers.
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