Story updated to include calculations of Groupon's growth starting in the 11th paragraph.NEW YORK ( TheStreet) -- Groupon's new valuation of $11.4 billion is less than half of the $25 billion it asked for in its June filing -- making the company four times more attractive to investors than previous IPO attempts. Groupon submitted an amended initial public offering on Friday, putting its previously delayed IPO on track for early November and offering its biggest price cut yet. Still to be seen is whether -- like its deals for spa treatments and pizza slices -- Groupon's IPO price cut be big enough to attract buyers? The company expects to sell 30 million shares -- 4.7% of its existing 632 million share base -- for as much as $18 per share. The IPO would raise $540 million through the offering. The company will trade under the ticker GRPN. In its new filing, the Chicago based online deals site founded three years ago reported revenue of $430.2 million in the third quarter of 2011 and quarter-over quarter growth of 9.6%, a slowing of its 33% second quarter growth rate. Nevertheless, revenue is at $1.12 billion nine months into the year. It means that revenue is expected to end the year having quadrupled since 2010. Today's filing shows the company's loss grew to $308 million in the first nine months into the year, but may be lower than the $456 million it reported at the end of last year. Because of its revenue in 2011 that's already exceeded $1 billion, Groupon is now seeking less than 10 times sales valuation in its IPO, significantly lower than its previous 36 times 2010 revenue valuation and those used to value LinkeIn ( LNKD), Pandora ( P) in their offerings. LinkedIn was valued at roughly 38 times 2010 sales and Pandora was given a price of near 20 times 2010 sales when they did IPO's earlier in the year. By looking at its growing revenue since last year -- and since it delayed IPO efforts, Groupon's new valuation only double's its valuation from a previous $6 billion bid by Google ( GOOG) gave it at the end of 2010. On a non GAAP-basis, so-called consolidated segment operating income (which excludes acquisition and stock-based compensation expense) came in at a small loss of $10.6 million from $101.2 million. This quarter, the number of Groupon's email subscribers grew 24%. Of its now 142 million subscribers, 29.5 million purchased a Groupon nine months into the year.