New York, New York (PressExposure) September 26, 2011 -- According to Buyechina wholesale electronics's expert Kokin James:"Although the encounter a series of mistakes, the United States Groupon still strive for IPO, the company's IPO was considered a big event. However, IPO time is still uncertain."
According to buyechina china phone wholesaler reports,the sources from China electronics store buyechina said today,Groupon executives remain committed to IPO issues. Groupon the main investor Capital Group Cos., T-Rowe Price Group, Fidelity Investments and Morgan Stanley have said they are still very interested on the stock.
However, management is still not sure when they can make IPO, because regulators are more active than expected to review the company's IPO documents. At the same time, stock market volatility has forced the company to postpone the IPO time. Groupon, Fidelity, Morgan Stanley and T. Rowe Price spokesman neither made any comment.
"Groupon submitted IPO application in June, hope to $ 20 billion valuation of publicly listed." China electronics store buyechina CEO Kokin James said.But since then, problems are emerging, as rising costs to acquire new customers, the company's profit is greatly affected. At the same time, Groupon listing application documents face the United States Securities and Exchange Commission scrutiny, and lead to re-file revision in the IPO on Friday.
Groupon presented the latest revised IPO documents Friday afternoon, to modify the previously submitted revenue data. New data show that, in order to correct previous mistakes, Groupon sharp decline in 2008, 2009 and 2010 income data. 2010 revenues decreased from $ 713,400,000 to $ 312,900,000.
Documents submitted on Friday included Groupon CEO's letter addressed to employees earlier this month, mainly for touting the company's success. The letter quickly leaked to the news media, which may be in violation of SEC rules - a company in the IPO process can not make any public statement.
On the same day, Groupon CEO announced the company's blog, the company No. 2 figure, COO Margo Georgiadis left and return to join Google in only 5 months.