Groupon managed its IPO

The website specialist deals Groupon flew its first day of trading Friday in New York, despite the doubts inspired by its business model. The stock closed its first day at 26.11 dollars, up 30.55% from the introductory course set Thursday at $ 20, but slightly down from the opening price (28 dollars).

The operation, which enabled the young company from Chicago to recover $ 700 million (710.5 million if the option is purchased on allocation) is the second largest IPO for an Internet company since that of Google in 2004, notes the financial firm Renaissance Capital.

The company was born three years ago in Chicago, which has big marketing costs to win and keep subscribers and clients traders, said the funds raised would enable it to finance the needs of the farm. "Our IPO is a small step in our journey," said the founder and CEO Andrew Mason on the official blog of the group. On the financial channel CNBC, the financial director Jason Child, expressed satisfaction with the extent of the operation, "rather important and good for our business."

Groupon had placed 35 million shares Thursday. These 35 million shares represent only 5% stake in the company, which according to analysts has created a tension between supply and demand in his favor, especially as opportunities to invest in the new economy have been rare since the spring. The IPO of Groupon was one of the most anticipated in the area of ​​high-tech U.S., pending the publisher of games Zynga, whose value is estimated around $ 14 billion but is already beneficiary, and especially the giant Facebook, much bigger, but has not yet filed a case.

But the valuation of Groupon during IPO at $ 12.7 billion, represents only about half of the estimates that were circulating last summer. Several analysts have noted that the fundamentals of the company, which widens its net loss while its growth lags the beginning of a slowdown, were carriers of risk.

Some analysts believe the outbreak of Groupon could be a short term phenomenon. They do not exclude a decrease of the action as it happened to the radio station Pandora Internet Media. Groupon has lost two senior vice presidents for a year and had to revise its accounts twice at the request of the authorities. "They wanted to shine in stock, so they do not put many in the audience," said David Berman, the sector specialist hedge fund Durban Capital. "They created demand by limiting supply. And they took the leap they wanted."