"This isn't saying just that participants in the IPO will be getting scammed, it's saying that the last rounds of private equity got scammed too." When Groupon

"This isn't saying just that participants in the IPO will be getting scammed, it's saying that the last rounds of private equity got scammed too." When Groupon IPOs, anyone with money already in stands to gain. The later into the pool you were, the less you stand to make, but I wouldn't go as far as calling the late equity "scammed". Personally, I think the writing is on the wall for Groupon, and it's just a matter of time until implosion. However, that's not to say that many investors won't make a killing (some already have).