Groupon Files $750 Million IPO – You Save 75% !
Kevin Harmon is the CEO of Red Shorts Media LLC, which owns movie and music trade-in/buyback websites. He is the former CEO of Inflatable Madness, LLC, one of the largest DVD and CD resellers on eBay and Amazon.
Kevin has appeared on Startup Nation Radio multiple times, has been featured in The Wall Street Journal, has been a featured speaker at eBay Live, and has appeared on Fox Business Channel.
Latest posts by Kevin Harmon (see all)
- Amazon:What’s All The Hubub, Bub? - February 15, 2014
- Starting An eBay And Amazon Business In 2014: It’s All About The Cash Flow, Joe. - February 12, 2014
- Hey Used Video Game Sellers: The XBOX One Just Pooped In Your Sandbox - June 3, 2013
Internet bubble? What internet bubble?
Yesterday, Groupon filed the paperwork to become a publicly traded company. Sometime this year, you will be able to buy stock in Groupon and join the other 500 million people making Groupon stock discount jokes.
Last year, Groupon turned down a $6 BILLION offer from Google. Laughable, right? Well guess what: Greed is still good. Yesterdays filing valued Groupon at around $20 billion.
Here are the best of the fun facts about Groupon that we’ve learned in the last 24 hours:
1. Groupon LOST over $400 million last year
2. Groupon’s CEO Andrew Mason takes and annual salary of $575.00. Poor guy – I hope he’ll make it. Mason holds 7.7% of the companys stock.
3. Mason is NOT the largest shareholder. That honor belongs to Eric Lefkofsky, who owns 21.6%…of $20 BILLION dollars.
4. In the last 2 years, Groupon has grown over 20,000%
5. Groupon has 83.1 million subscribers in 145 US markets
6. Groupon has over 7,000 employees
7. Groupon. Is. THREE. YEARS. OLD.
Personally, this company and IPO remind me a lot of the “Irrational Exuberance” days of 2000 when any company with a .com in its’ name shot to the moon. I have 2 concerns with Groupon:
1. They just bleed money. They’ve lost $114 million in Q1 of 2011 alone.
2. Their model is easy to duplicate. With competitors like LivingSocial, Google, Facebook, and other very large fish jumping into the space, Groupon is in no way an island.
What do you think? Would you buy Groupon stock?
CEO Red Shorts Media
Coolest DVD CD and Video Game Buyback Site Ever: MightyBuyback.com