Friday, November 4, 2011

Groupon's IPO Boosts Howard Schultz's Fortune

The huge IPO Friday of daily deals site Groupon looks to have boosted the net worth of Starbucks and Maveron founder Howard Schultz by nearly $57M, as the highly awaited IPO traded as high as $30.00 in its first few hours of trading. Schultz, according to Groupon's S-1, owns 1,899,336 shares of its common stock after the IPO. Maveron and Schultz invested in Groupon in February.