Shares of daily deals site Groupon rose more than 50 percent in their stock market debut, but at least some of the early trading exuberance may have come from limiting the fraction of the company that was sold. The shares rose as high as $31.14, or 55.7 percent above the IPO price, in early trading on the Nasdaq, at one point pushing the market value of the company up to $19.9 billion. The shares later eased back, closing at $26.11. Despite the early success, there are still lingering questions about Groupon’s business model and about competition from better-funded rivals such as Amazon.com and Google.
Yahoo has signed confidentiality agreements with several parties interested in buying all or part of the company, according to people familiar with the matter. The Internet pioneer said potential buyers had to sign an agreement by Friday to be allowed a close look at Yahoo’s finances. But the Friday deadline could be extended into next week to provide more time for other firms to sign on, the sources said. Some private equity firms have balked at signing Yahoo’s nondisclosure agreement because of restrictions that would prevent them from forming consortiums, sources told Reuters last week.
Groupon shares close up 30.55 percent from its IPO price of $20 at $26.11.
#Groupon shares up 50 percent at $30 at debut $GRPN
China and Russia are using cyber espionage to steal U.S. trade and technology secrets to bolster their own economic development, which poses a threat to U.S. prosperity and security, a U.S. intelligence report titled “Foreign Spies Stealing U.S. Economic Secrets in Cyberspace,” said. Intelligence services, private companies, academic institutions and citizens of dozens of countries target the United States, the report said. But it only named China and Russia. “Chinese actors are the world’s most active and persistent perpetrators of economic espionage,” the report said.
Online retailer Amazon.com added library to the list of services it offers. Kindle tablet owners with the Prime membership can choose from thousands of books to borrow for free on a Kindle device, including more than 100 current and former New York Times bestsellers, as frequently as a book a month, the company said. Amazon will initially offer slightly more than 5,000 titles in the library, including more than 100 current and former national bestsellers, such as Stephen R. Covey’s “The 7 Habits of Highly Effective People,” The Wall Street Journal reported.