Groupon, Pandora Pursue Public Offerings
Groupon and Pandora, two popular online services for consumers, are pursuing IPOs, according to people familiar with the matter.
Earlier today in Chicago, Groupon, an advertiser that offers consumers discounts on goods and services, held "bakeoff" meetings with Wall Street underwriters as an initial step in potentially going public, these people said.
Exact details of the potential offering aren't yet clear, but people familiar with the process say that a Groupon IPO could be valued at $1 billion or more and could occur as early as spring.
Pandora, the online radio service, held a bakeoff on Tuesday in California, said people familiar with the matter. The company is considering a roughly $100 million IPO, and may select a lead underwriter as early as Friday.
A spokeswoman for Groupon declined comment. A spokeswoman for Pandora also had no comment.