Why Did Groupon Turn Down Google's $6 Billion? Source Says $15-$20 Billion IPO Coming

Remember when investors were shocked when Google GOOG offered $6 billion to buy online coupon site Groupon? Further, remember the astonishment when Groupon turned Google down? It appears that the rejection had merit: a source familiar with the matter is saying that Groupon is looking at a second half initial public offering valued at $15 billion to $20 billion. It's expected that Goldman Sachs GS and Morgan Stanley MS will be the lead underwriters. The speculated market value was first reported by the Wall Street Journal, which also said that JPMorgan Chase & Co JPM was expected to have a co-manager role. As is the case with most public offerings, exact specifics are unknown to companies, underwriters and the general public until the actual first day of trading. Groupon is among the trendy "social" startups that have built high valuations in secondary markets of late. Facebook, Twitter and LinkedIn are a few others that have benefited ahead of possible IPOs.