Benchmark Comments on Groupon's IPO Delay

The Benchmark Company has published a research report on Groupon, citing that the company's IPO delay is the result of a slumping stock market and the resignation of the company's COO. In the report, Benchmark writes, "On Friday, Groupon filed an amended S-1 which restated revenue to reflect the share of billings kept by Groupon and highlighted Andrew Mason's email. The daily deals market growth re-accelerated in August and September after a summer slowdown with Groupon gaining market share. We expect a combination of more diversification of offerings and geographic expansion could help drive total Groupon gross billings growth of 452% y/y in 2011 to over $4 billion leading to almost $1.7 billion of revenue."