NEW YORK (AP) — Online coupon company Groupon says it has elected Howard Schultz, the CEO of Starbucks Coffee Co., to its board amid media reports that it is preparing for an initial public offering in the spring.
Groupon says a venture capital firm founded by Schultz has invested in the company alongside the appointment.
Private companies typically add outsiders to their boards before going public.
Professional social networking site LinkedIn Corp. last month said it planned to raise at least $175 million in an IPO, paving the way for the long-awaited IPOs of other websites that help people connect with each other.
Reports of an IPO come after Groupon rejected a $6 billion takeover offer from Google Inc. last year and privately raised $950 million in January to fund its expansion.
