$Groupon(GRPN)$ Alibaba, IAC seen as potential suitors as Groupon reported to seek buyer Shares of Groupon (GPRN) are surging in morning trading after a report said the daily deals company is seeking a buyer. According to the report, executives have contacted several public companies to try to drum up interest in buying the company. GROUPON SEEKS BUYOUT: Daily deals company Groupon is looking to be acquired, Recode reported this weekend, adding that executives have contacted several public companies in the past month to try to lure potential suitors. Groupon has made it known for some time to potential acquirers that the company is open to the idea of a sale, but representatives for Groupon were especially aggressive last month in attempting to create interest among potential suitors, two sources said. It is unclear whether Groupon's endeavors have been successful, the report also noted. POTENTIAL SUITORS: Alibaba (BABA), which bought a nearly 6% stake in Groupon in 2016, has been reported as a potential suitor, as well as IAC (IAC), whose CEO Joey Levin sits on Groupon's board of directors. WHAT'S NOTABLE: Though Groupon was worth over $16B by its IPO day in 2011, today it is valued at just $2.4B following a decline in the daily deals category. Over the last year, Groupon has focused more on its digital voucher business and less on its Goods category. In May, Groupon reported better-than-expected results for its first quarter, with CEO Rich Williams, who has led the company since 2015, telling investors that the company will continue to focus on food and drinks for Groupon+, but may explore new categories later in the year. PRICE ACTION: In pre-market trading, shares of Groupon are up 49c, or 11%, to $4.85.