Groupon’s value falls below Google offer
BY SANDRA GUY Business Reporter firstname.lastname@example.org June 4, 2012 6:20PM
Updated: July 7, 2012 8:34AM
Groupon’s stock price fell 7.7 percent Monday, putting its value at $5.8 billion — or slightly below the $6 billion that Google offered in its headline-grabbing but failed acquisition bid in December 2010.
The new low of $8.95 a share for the Chicago-based daily deals and local merchant software provider continued Groupon’s stock-price woes. Groupon’s stock fell 9 percent on Friday, when company insiders got their first shot at selling the stock.
After Groupon rejected Google’s bid, its leaders chose to go public. The stock debuted on the Nasdaq exchange on Nov. 4, 2011.
Meanwhile, Facebook’s stock continued to get drubbed, hitting a new low on Monday of $26.90, down 2.96 percent. The shares have plunged about 30 percent since the social network’s public offering May 18.