Groupon shares close 31pc up at US$26.11 a share

4 Nov 2011

In the biggest tech IPO since Google in 2004 daily deals site Groupon’s shares closed at US$26.11 per share, up 31pc from the US$20 entry price they began at when trading commenced on the Nasdaq earlier today.

The momentum sends a strong signal to other social networking plays like Facebook and Zynga which are also due to IPO in the year ahead.

The strong performance gives Groupon a market value of approximately US$17.8bn.

Groupon, which uses the ticker GRPN, had priced its shares to debut at US$20. The company’s IPO saw 35m shares go on sale, up from 30m envisaged mid-week.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years