The Groupon (GRPN) IPO Day 1 Liveblog!


Apologies for not starting sooner, but certain members of Betabeat have spent the morning in their boxer-briefs breathing into a paper bag in the fetal position, as they burn printed out Groupons and smudge sage over a well-adorned shrine to Groupon Cat and Skanda.

Either way, we’re well into Groupon’s first day on the NASDAQ as a publicly traded company, and BetaBeat will be liveblogging the IPO for the rest of  the day, all the way through next Friday.

Yes folks, we’ll be giving you updates in arbitrary chronological marks as this thing keeps going through it’s first week. But for now, let’s get to Day 1.

Thursday Night, 7PM: Groupon announced its IPO price at $20, well above all but the very latest estimates, most of which had pegged the price at somewhere between $16 and $18. Kara Swisher at All Things D noted that the company “was more than 10 times oversubscribed,” meaning that there was more demand for Groupon stock than they’d initially anticipated.

Friday, 9:30 AM: Groupon (now better known to anyone who cares as GRPN) opens strong, rocketing to just south of $30.

Friday, 11 AM: GRPN takes its first dive, just a little south of $26. Again, that’s still $6 higher than its opening price.

Bloggers are teh sad.

Friday, 11:32 AM: Nitasha notes that certain doomsaying bloggers—ahem—are teh sadz about what isn’t Groupon’s catastrophic nose dive upon opening. Their highest rise was the early morning uptick, a 46% gain.

Friday, 1:42 PM: GRPN creeps back up to just south of their first high position. It’s currently sitting at $28.30, 41.5% higher than its opening price. Adrianne is happily eating her birthday donuts, Nitasha is gnawing on nicotine gum, and I am looking furiously for anything within reaching distance to huff. Popper is nowhere to be found, which may explain why the industrial glue is missing from his desk when we need it the most.

Friday, 2:06 PM: $28.02. GRPN holding steady at around a 40% gain. Henry Blodget at Business Insider is congradulating Groupon on their “mindboggling success.” That’s putting it lightly. This could be a very crafty way to tempt the fates that draw Groupon to crash like a crack addict picked up for a public urination ticket. Or not. They also post a bunch of pictures of Groupon’s field trip day to NASDAQ, and I’m clicking and grinding my teeth. Look at your own risk. Here’s one of them:

Somewhere, Groupon Cat is singing the Highlander theme song.

Friday, 2:45 PM: $27.57, gain from opening is 37.85%. Nick Rizzo of Reuters wants to wager that it’s going to stay between $26 and $30 for the rest of the day; the much safer bet is my injecting an epipen into my stomach from breaking out into hives before my next cup of coffee. I’ll pass. Also, of course Dippin’ Dots goes bankrupt the day Groupon unleashes their IPO. Of course.

Friday, 3:57 PM: $26.05. The last twenty minutes of trading have been a little wild: the share price sunk over a dollar. Looks like people are starting to think about Monday.

Friday, 4:00 PM: GRPN closes at $26.11 for the regular trading day, only $.20 higher than the lowest trading point and $5.03 down from the highest point, but still up $6.11 from where it IPO’d. The last twenty minutes of trading have been a little wild: the share price sunk over a dollar. Looks like people are starting to think about Monday, but oh, wait, we’re going into extended hours trading. For the moment, I’ve stopped trying to eat my own hair and have begun regular breathing patterns again. The Groupon (GRPN) IPO Day 1 Liveblog!