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Groupon Restarts Plans For 2011 IPO

Groupon could restart its IPO preparations.After a turbulent few weeks that seemed to signal the end of its initial public offering, daily deals website Groupon plans to restart preparations, according to The New York Times.

The company suffered several major blows to its IPO prospects over the months of planning, first when it was forced to dump its controversial financial reporting metric and then again when an internal memo from founder and chief executive officer Andrew Mason was leaked, raising concerns he had broken Securities and Exchange Commission rules.

After a deal was reached with the SEC, however, sources told the Times the IPO should still be conducted some time within the next two months, depending on the volatility of the market in coming weeks.

The move comes on the heels of news broken by The Financial Times that social networking giant Facebook will be delaying its IPO at least six months. This sets up Groupon as the largest option in a limited IPO market for at least one year, raising its prospects. Facebook game maker Zynga also hopes to conduct its IPO in coming months, but the company has delayed the offering due to poor market conditions.

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