Groupon files for IPO Video

Groupon files for IPO Video Transcript

It's Monday, June 6th, 2011. I'm Wilson Tang on CNET.com and it's time to get Loaded. Groupon, the social daily deals discount site, announced it's filing an IPO for $750 million. You may remember that Groupon turned down a $6 billion offer from Google. While the $750 million IPO values Groupon between $20 to $25 billion, some analysts are cautioning that the 8000-employee site is burning through a hundred million dollars a quarter and still not earning a profit. Apple's much-rumored iCloud service is expected to make its debut today at the company's World Wide Developers Conference. iCloud is expected to stream music from the cloud but new rumors from the Cult of Mac suggest that it might have a lot more to do with the new Time Capsule device than just the cloud. Time Capsule is Apple's home wireless networking and backup device, but new rumors suggest that the Time Capsule itself could stream music and movies while caching software updates for iOS devices. Stay tuned to CNET.com for the latest from WWDC. The bankrupt Nortel Networks is unloading 6000 patents on technology that includes wireless video, Wi-Fi, and even 4G LTE. The Justice Department, however, is worried that the patents could stifle competition especially if Apple gets a hold of them. The DOJ's Anti-Trust Division is reviewing the bids for the patents but is yet to take any action. Advertisers are always trying to find ways for users to engage with advertising, and McDonald's has found a way for users to actually look at billboards. Now people can whip out their iPhones and play digital Pong. If you manage to last more than 30 seconds, you also win a coupon from McDonald's and the best part about the new advertising is that you don't have to download any new software. The controls are available over a simple URL that checks your location via GPS. HTC and Sprint have made some announcements about their upcoming Android phones. On June 24th, the HTC EVO 3D and the 7-inch EVO View 4G will make their debut. Both phones will run 4G, WiMAX, and Android Gingerbread. The EVO 3D will cost $200 while the EVO View 4G will run $400 on, yes, a 2-year contract. Those are your headlines for today. I'm Wilson Tang for CNET.com and you've just been loaded.