Groupon (GRPN) Nearly Twice as Valuable as RIM (RIMM)
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Groupon (Nasdaq: GRPN) shares are trading at about $28 following the pricing of its IPO Friday.
At that price, and just over 633 million common shares outstanding, that pegs Groupon's initial market cap at $17.7 billion.
By comparison, Research In Motion (Nasdaq: RIMM), with 524.12 million issued common shares as of last quarter reports, and at a trading price of about $19.60 Friday, has a market cap of $10.3 billion.
So, Groupon is officially almost twice as valuable as the maker of BlackBerry handsets and software, a physical, functional (mostly) product. Someone pinch us, because we just woke up in 2000.
At that price, and just over 633 million common shares outstanding, that pegs Groupon's initial market cap at $17.7 billion.
By comparison, Research In Motion (Nasdaq: RIMM), with 524.12 million issued common shares as of last quarter reports, and at a trading price of about $19.60 Friday, has a market cap of $10.3 billion.
So, Groupon is officially almost twice as valuable as the maker of BlackBerry handsets and software, a physical, functional (mostly) product. Someone pinch us, because we just woke up in 2000.
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