Kara Swisher at All Things D reports that Groupon has priced at $20 a share, which—yes—is more than people had initially expected.
Says Ms. Swisher:
The offering for the daily deal site — which has had a controversial IPO process — was more than 10 times oversubscribed, meaning there was more demand than supply of its stock.
Could be demand for the stock, sure. Or demand for shares of an overhyped startup IPO that will be purchased and dumped on its ass by day’s end.
For the record, Adrianne is in the Betabeat Groupon Guessing Contest Lead. Obviously we’ll be liveblogging Groupon’s first day on the markets tomorrow. It will be fun/masochistic, especially the part where we secretly buy Adrianne 100 shares on margin for her birthday and see what happens. Stay tuned!
UPDATE: Actually, Zach Seward—the crafty fellow who edits social media over at the Wall Street Journal—guessed $19, which put him $1 closer to the price than Adrianne. He’s currently in the lead! Hey, Adrianne: FAIL.