Groupon to launch IPO in early November at $11 billion valuation

Daily deals giant Groupon looks poised to go public on November 4th, 2011, according to a report published by the Wall Street Journal.

The IPO has been delayed and diminished. In Groupon’s original plan, it would have gone public already at a valuation of $20 billion. Now, the delayed IPO will be set at just over $11 billion, or roughly $17 per share. The startup hopes to raise more than $600 million as a result.

The company has been bleeding red ink for a while now and the whole daily deals space appears on the brink of collapse—not to mention some legal issues and the fact merchants get a raw deal—which might make it difficult to attract investors. But if there is one thing the world doesn’t lack, it’s fools, so Andrew Mason should be able to pull it off even in this turbulent market.