Online deals site Groupon has delayed its IPO for a few weeks to deal with concerns from regulators over the expected move to the stock market, according to a report on Reuters.
The report said that two sources with knowledge of the deal confirmed that Groupon has been forced to postpone the offering, and has cancelled a roadshow event to attract investors scheduled for next week.
The Securities and Exchange Commission is investigating after Groupon chief executive Andrew Mason wrote a memo to staff that was leaked to the media in which he talked about revenue growth in August at a time when the company was meant to be in a "quiet period" ahead of the IPO.
Groupon filed for a $750m IPO in June but questions have remained about the firm's financial figures and whether it can achieve long-term success.
Groupon posted a net loss of $102m for the first quarter of 2011, and has a deficit of $522m, but turned down a whopping $6bn offer from Google.
Mason used the firm's initial IPO filing in June to admit that the company had not always been sensible, but promised that the rewards were there for the taking.
"As with any business in a 30 month-old industry, the path to success will have twists and turns, moments of brilliance and other moments of sheer stupidity. Knowing that this will at times be a bumpy ride, we thank you for considering joining us," he said.
"When we see opportunities to invest in long-term growth, expect that we will pursue them regardless of certain short-term consequences."
Several companies in the tech sector have been rumoured to be preparing to go public or have already done so this year, most notably LinkedIn which saw its share price rocket on the opening day on the stock market.
Other technology firms have also been forced to delay proposed flotations, however. Gaming firm Zynga called off its IPO citing the current state of the financial markets.
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