Monday, July 9th, 2018

Groupon is Reportedly Looking for a Potential Buyer

According to a report by Recode citing sources familiar with the matter, daily deal site Groupon is reportedly looking to potentially be acquired.

In 2011, the Chicago-based company was valued at $16 billion at the time of its IPO, that valuation has since decreased to its current valuation of$2.4 billion.

The report did not state the specific reason as to why the company is looking to sell.

Sonos Files for an IPO

Reuters reports that wireless speaker company, Sonos, filed for an initial public offering on Friday.

The company sells its products in 50 countries with the majority of sales coming from outside the United States. It recently partnered with Amazon to offer Alexa smart speaker capabilities through its products. Reuters reported that in 2017, the company’s revenue reached close to $1 billion.

The company did not state the size of the offering. It looks to list on the NASDAQ under the ticker SONO.