CHICAGO, Nov. 5 (UPI) -- The jump into the public domain was but "a small milestone" for Chicago company Groupon, Chief Executive Officer Andrew Mason said in an online posting.
"Our IPO is a small milestone on our journey. I feel incredibly grateful to serve as CEO of Groupon. With our IPO behind us, I couldn't be more excited about what lies ahead," Mason wrote, the Chicago Tribune reported Saturday.
The initial public offering Thursday included a starting price between $16 and $18 per share with 30 million shares sold, a number the company has already lifted to 35 million.
That valued the company at $12.7 billion, near the middle of the estimates that dramatically rose and fell before the sale.
Early estimates valued with the company at $30 billion. Revenues were increasing at a gallop in those days.
But revenue growth slowed and estimates fell with some analysts expecting the valuation to come it at $6 billion.
The company played its IPO cautiously, selling only 5.5 percent of the company. That could increase, which would hold share values steadier. With demand high and supply low, the value of a Groupon share is vulnerable to wild swings, the Tribune said.
On Friday, Groupon shares listed on the Nasdaq index rose 31 percent to $29.24 per share.
