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Tech Weekly: Groupon Gets Set for IPO

CHICAGO ( TheStreet) -- Groupon, the Chicago daily deals site that has seen rapid growth and a increasing valuation over the past year, was one of tech's biggest headliners this week, filing its IPO paperwork late on Thursday afternoon.

The IPO, expected to raise as much as $750 million, comes less than a month after LinkedIn (LNKD) made its spectacular Street debut.

According to its filing, Groupon posted a massive net loss of $420.3 million last year on $713.3 million in sales, largely because of a huge hiring spree. In less than two years, the company has grown to 7,107 employees from 37.

Groupon, which famously rejected Google's (GOOG - Get Report) $6 billion takeover offer last year, will trade under the ticker symbol "GRPN." The company, however, has not yet specified an exchange.

Intel (INTC), in the face of stiff competition from Apple's (AAPL - Get Report) iPad, announced that it is putting its faith in a new breed of light, super-skinny laptops, dubbed Ultrabooks, this week.

Intel outlined its plans to build low-power chips for Ultrabooks at the Computex show in Taiwan on Monday, boldly predicting that the devices will account for 40% of the consumer laptop market by the end of 2012.

The tech bellwether says that Ultrabooks will combine notebook and tablet features within a "thin, elegant" form factor that's less than 20 millimeters (0.8 inch) thick.

Based on the second generation of its Core processors, Intel says that the first of the ultra-thin notebooks will be available in time for the 2011 holiday season. These will include Asus' UX21 Ultrabook, which was showcased at Computex.

Intel's stock closed down 35 cents, or 1.61%, at $21.73 on Friday.
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