Chicago: Groupon Moves Closer to IPO

Chicago SkylineGroupon Doubles Subscribers as IPO Approaches: Groupon’s subscriber count reached 115 million this year. The news comes as the Chicago-based company prepares for an expected IPO later this year. The offering, which is meant to raise $750 million, could value the company at as much as $20 billion. First, though, Groupon must do some damage control regarding its accounting. The firm will no longer use a metric called “adjusted consolidated segment operating income,” a technique that excludes marketing and stock-option expenses, and which investors and the SEC frown upon. Chicago Business

Smart Electric Meters Could Save $2.8 Billion Over 20 Years: An analysis evaluating a one-year smart meter pilot project concluded that ComEd customers could save $2.8 billion on their electric bills over the 20-year life of smart meters, above and beyond any savings they see by employing the meters to personally manage their energy use. Among other advantages, smart meters would eliminate manual meter reading, provide more accurate billing, fewer service visits and fewer calls for customer service. ComEd via PRNewswire

October Ideas Week Will Shine Spotlight on Innovation: Chicago Ideas Week, a seven-day public platform of ideas and innovation, will be held from October 10 to 16.  In addition to featured speakers from the worlds of technology, entertainment and politics, the city-sponsored program will host 50 college students from around the Midwest. The students, identified as tech leaders at their schools, will also get tickets to TEDxMidwest, which is being held at the same time. Students can apply at Chicagoideas.com/ThinkChicago by Aug. 30. The Chicago Tribune

New Medical District Will Generate High-Tech Jobs: Gov. Pat Quinn signed a bill to help Chicago’s far south side attract high-tech and medical research investments. The Roseland Community Medical District is meant to attract lure institutions, medical research facilities, and high-tech businesses. Modeled after three existing districts in Central Chicago, Springfield and East St. Louis, the RCMD can solicit funds, enter into leases, and undertake other economic development and maintenance functions. Illinois.gov

Post a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>