Fast-growing daily deal site Groupon Inc. has filed paperwork for its hotly anticipated initial public offering of stock.

The regulatory filing Thursday sets the potential value of the IPO at $750 million.

Groupon’s move follows an IPO by social-networking site LinkedIn that valued that company at $9 billion by the end of its first day of trading.

The filing did not specify the number of shares to be sold in the IPO, the price range, or the exchange, though it did say the shares would trade under the symbol “GRPN.” 

Underwriters are being led by Morgan Stanley and Goldman Sachs & Co.

Last year, the Chicago-based company turned down an offer from Google, reportedly worth $6 billion.

Groupon faces competition from rival Living Social, which has won backing from Internet retailing giant Amazon.com. Social networking giant Facebook recently launched a daily deals program in five markets, and search giant Google is testing its own Google Offers in a few markets.

The Groupon filing comes two weeks after LinkedIn went public on May 19.

LinkedIn offered shares at $45. The stock skyrocketed to over $100 per share and settled at about $94 on the first day. On Thursday, LinkedIn shares are trading around $79, giving the professional networking company a capitalization of about $7.5 billion.

This is a developing story. Check back later for more.

Leave a Reply