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Groupon To Delay IPO Based on Economy, It Was Reported Tuesday

Groupon is reported to be delaying their IPO based on the economy, it was reported on Tuesday.

Groupon is reported to be delaying their IPO based on the economy, it was reported on Tuesday.

The online daily deal company Groupon as well as Zynga which creates games for Facebook were both reported on Tuesday to be delaying their initial public offerings, IPO in the United States because of recent market turbulence. Both companies had earlier expressed an interest in offering their IPOs in the fall of this year, shortly after the Labor Day holiday since this is a busy time for IPOs traditionally.

H0owever, the current state of the markets has led to Groupon pulling back from selling shares, although the company is said to be expecting to launch IPOs when the conditions are more suitable, according to sources. Groupon was hoping to raise $750 million with their shares, while Zynga is hoping for $1 billion when they offer their IPO. However, neither company as yet has commented on the reports of delaying the IPO.

According to data from Bloomberg, only five initial public offerings were completed last month, and in the last three months U.S. IPOs have been scrapped or delayed at a faster rate than in any comparable period since 2004.

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Anthony has more than 35 years business experience as an employee, manager, entrepreneur, and consultant. A Trivia buff, Anthony is one of the major contributors to the General News category, too.

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