Groupon updated its S-1 filing for its much-anticipated initial public offering Thursday, disclosing it added JPMorgan as its fourth lead underwriter, while also disavowing statements made by a co-founder that the company “was going to be wildly profitable.”
The daily-deals company’s original IPO filing listed Morgan Stanley, Credit Suisse and Goldman Sachs as lead underwriters. Besides JPMorgan, Groupon also lists a slew of other underwriters all looking to get a cut of a company that Wall Street could value as high as $25 billion.
JPMorgan was also a lead underwriter for another hot Internet IPO, career-networking site LinkedIn. The Wall Street Journal reported last week that JPMorgan is also one of three banks chosen as the lead underwriters for the upcoming IPO of Groupon rival LivingSocial.
Numbers
$645 million Groupon’s first-quarter revenue, 13 times more than a year earlier
$146 million Groupon’s quarterly loss, from marketing and acquisition costs
