Groupon, the online discount coupon service, has announced plans to raise an estimated $750m (£460m) through an initial public offering in the US. Analyst believe the $750m figure is well below the estimates for the start-up company’s full valuation, with reports putting it at somewhere between $15bn and $20bn. The company has around 83 million subscribers across 43 countries, including the UK, where a number of restaurant operators, such as Bodean’s, have signed up to the service. Groupon sells coupons offering deeply-discounted deals from businesses and takes a cut in any money the business using the coupons makes. It sold 28.1 million coupons in the first quarter of this year. The Chicago-based firm, which only started three years ago, generated $645m in revenue for the first quarter of this year against $713m for the whole of 2010. In a letter to potential investors, founder Andrew Mason said: “If you are thinking about investing, hopefully, it’s because, like me, you believe that Groupon is better positioned than any company in history to reshape local commerce.” Last December, Groupon rejected a $6bn bid from Google, which has since launched its own daily deals services, as have Facebook and Amazon.