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Groupon May Postpone IPO

By Chuck Sudo in News on Sep 7, 2011 2:00PM

2011_7_28_groupon.jpeg The comedy of errors that is Groupon's IPO prospectus continues. The Wall Street Journal reported yesterday the deal-a-day giant is considering tabling its investor roadshow and may postpone the IPO.

A source told the Wall Street Journal the reason for the possible postponement of the IPO is the recent volatility of the stock market. The roadshow was scheduled to attract potential investors and, while the stock market's recent roller coaster ride may dissuade investors, Groupon's numerous missteps in the wake of its prospectus filing doesn't help.

Groupon CEO Andrew Mason's memo to all employees where he said the company was the greatest thing to happen to small businesses since the invention of the telephone is still the subject of a possible SEC inquiry as to whether the company violated "quiet rules" established so that CEOs like Mason couldn't influence investors. Groupon said they'll now be reevaluating the IPO on a week-to-week basis. Maybe that will give them more time to boost their sagging domestic sales and infuse the company with much-needed cash.