I know I’m beating this horse to death at this point, but this is the important stuff happening right now, a market melting down while a handful of Icarus IPOs charge undaunted right into the sun.
Anyway, if you think I’m negative on Groupon‘s $30 billion self-awarded valuation, here’s what Forrester Research analyst Sucharita Mulpuru had to say…
From Reuters:
“There is no rational math that could possibly get anyone to the valuation Groupon thinks it deserves…This IPO game isn’t about finding value, it’s about finding a greater fool who actually believes the valuation is true. Trust me, you will be the fool”
Now I don’t know what exactly a “Sucharita Mulpuru” is but it’s definitely making sense. Also this:
Groupon generated more than $700 million in revenue last year, but Mulpuru said $615 million of that came from acquisitions, heavy marketing and expansion into new markets.
I’d like to see them buy $615 million worth of revenue this year and then next year. LOL,
Source:
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