Lloyd Blankfein went to Groupon to personally pitch the comapny on leading it into its eventual — and potentially huge — IPO, Bloomberg reports.
They’re fighting to take this away from Morgan Stanley, which just invested in Groupon’s recent $950 million round.
Working in their favour: Yuri Milner of DST.
Milner has a bunch of contacts at Goldman, and he led an investment in Groupon last year.
Milner brought Goldman to Facebook, too.
Winning the IPO could be a big fight because the two firms won’t do it together. No one wants to be the second firm listed.
This is also big news because it’s clear that Goldman is focusing more on banking than trading — advising Groupon through its IPO would be a big boon to Goldman’s IBD.
Also interesting: Blankfein apparently didn’t bother pitching AIG yesterday, which is pursing a huge share sale — perhaps because he thought Groupon was more important.