Groupon Inc. (GRPN) Faces Accounting Issues, Why is Anyone Surprised?

Groupon Inc. (NASDAQ:GRPN) is down 13% today falling well below its value at the time of its IPO last year. The company went public at a valuation of around $13 billion, raising $700 million in its IPO. That made it the most valuable tech IPO since Google’s in 2004. Google’s raised $1.7 billion and there is no way Groupon’s name and business model are exactly on the same planet as Google’s in 2004 never mind the same scale. The company’s shares fell below their IPO level in November of last year and have stayed there since plummeting lower. Today’s fall…