Groupon is scaling back the size of its initial public offering as a result of market volatility and company miscues, according to published reports.
The daily deals provider is expected to offer less than 10 percent of the company at a valuation of $12.5 billion, people familiar with the deal told the Wall Street Journal and the New York Times. Both papers reported that the deal itself, which is expected close in the next couple of weeks, is expected to be $500 million to $700 million.
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