Groupon (NASDAQ:GRPN) stock was up on Monday following news over the weekend that the company is looking for a buyer.
According to this recent report, Groupon has been seeking a buyer for the last month. The company has always been open to a sale, but it has been more aggressive in pushing to find a buyer lately. It’s still unknown why.
Information about Groupon’s search for a buyer comes from two anonymous sources inside the company. They claim that GRPN executives and the bankers that represent it have reached out to several public companies in its .
There’s also already talk about two potential companies that may have an interest in acquiring Groupon. They include Alibaba (NYSE:BABA
) and IAC/InterActive (NASDAQ:IAC). Alibaba is on the list because it took out a 6% stake in GRPN back in 2016. IAC’s there because CEO Joey Levin is a member of the company’s Board, reports Recode.
Groupon got its start back in 2008 as a private company. It wasn’t until 2011 that it became a publicly-traded company. The company has seen its ups and downs since then, with the current trend being a drop to its value. This may be what is pushing it so strongly toward a sale recently.
GRPN stock started the day off strong on Monday by being up 11% when the markets opened. However, it quickly settled back down and is now only up 4% as of Monday morning. When it comes to the current year, the stock is down 16%.
As of this writing, William White did not hold a position in any of the aforementioned securities.
