According to numerous sources close to the situation and after regulatory pressure, Groupon will amend its S-1 public offering filing to remove references to an unusual accounting treatment that has attracted controversy.

Sources said the new filing by the social buying company, which is helmed by CEO and co-founder Andrew Mason (pictured above), will likely occur as early as Monday.

It can’t come a minute too soon regarding a metric called ACSOI, or adjusted consolidated segment operating income, which the Chicago-based Groupon used when it filed its S-1 documents in June.

As I wrote at the time about the odd use of ACSOI:

Let’s be clear, this is a number that does not include important costs, such as critical online marketing expenses to attract new customers to Groupon.

Such accounting is called non-GAAP (generally accepted accounting principles).

In 2010 and the first quarter of 2011, Groupon said its Adjusted CSOI was $60.6 million and $81.6 million, respectively.

On a GAAP basis, Groupon lost $413.4 million for 2010 and $113.9 million in the first three months of 2011.

And, indeed, questions from the media, investors and, most importantly, the Securities and Exchange Commission about how Groupon accounts for its revenue and profits using ACSOI were swift and decidedly negative.

Hence, a furious debate — along with much internal tension — within Groupon about what to do. At first, in another S-1 amendment, the company backed away from using ACSOI as a “valuation metric.”

But that was apparently not enough for the SEC or anyone else, so Groupon’s top managers finally thought it best to rid itself of the term entirely. That will happen next week, sources said.

And, in coming weeks, sources added, the company will be filing additional financial information about both its growth and costs, which will undoubtedly also be put under a microscope by the media, investors and regulators.

A Groupon spokesman declined to comment when asked about the removal of ACSOI from its public offering documents.

According to sources close to the situation, Groupon’s actual run rate for this year is clocking in at $2 billion in revenue, rather than the widely quoted $500 million.

Who knew hawking spas treatments and stripper pole lessons could be so lucrative?

About 50 percent ofhat revenue is paid out to the myriad of local merchants–called a pass-through–that the social buying phenom does discount deals with, those kind of numbers give some insight into why Google has been willing to entertain paying up to $6 billion to acquire Groupon.

The pair have been in discussions about an acquisition by the search giant, which was first reported here.

Over the last several weeks, a much lower $500 million to $600 million annual revenue figure has been used for Groupon–including here.

Apparently, that’s only in one quarter of the year.

The Chicago-based start-up is privately held and does not have to release its financial information.

As in all acquisition talks, there is a chance they will not result in a purchase. Google and reviews site Yelp, for example, held serious discussions that resulted in no purchase by the search giant.

[UPDATE: The Google-Groupon talks are over, as Chicago-based start-up decided to go it alone.]

One thing not true: A split between CEO Andrew Mason and his two original partners–Brad Keywell and Eric Lefkofsky over the possible sale.

That tension has been rumored by some, with Mason more interested in keeping Groupon independent and focused on an IPO and the others wanting to sell.

Sources said the trio are not at odds over the future of Groupon.

Even as Groupon is poised to sell itself to Google for badillions of dollars, the attack of the social buying clones continues.

Today, it is the launch of FamilyFinds, a Santa Monica, Calif., start-up aimed at offering daily deals to families, with $5.75 million in funding to help it get going.

“Think relevance, plus an explosive market plus a great team,” said FamilyFinds CEO Matt Coffin, in an interview yesterday about the new site, whose first “holi-deal” today is “$10 Only-in-LA Santa Photos.”

Others to come include kid-focused live shows, skate rentals and holiday cruises that Coffin said are “hyper-local and demographically targeted.”

Coffin said, as a longtime entrepreneur, he was intrigued with the booming social e-commerce space. But, as a parent, he was less impressed, because of little in the way of personalization.

“I was somewhat disenchanted by the same offers that did not target me accurately,” he said.

(So is BoomTown, who is going to scream if I get another spa treatment or stripper pole lesson offer this week. Not that there’s anything wrong with that.)

Thus, Coffin said FamilyFinds drills down on one audience–those who need to entertain and serve the little ones.

The former founder of LowerMyBills co-founded FamilyFinds with, among others, a blast from the Web 1.0 past: Former Disney Internet Group head Jake Winebaum.

At launch, FamilyFinds said it will focus on numerous communities across Los Angeles, although a national rollout is coming in 2011.

Split Rock Partners provided the Series A funding.

Here’s the official FamilyFinds press release:

FAMILYFINDS.COM ENTERS $1B LOCAL SOCIAL ECOMMERCE SPACE

Backed by $5.75 Million Investment, Leading Internet Veterans
Launch Vertical Family Daily Deal Site

(Santa Monica, CA) December 1, 2010–FamilyFinds, an online daily promotions site exclusively focused on services and experiences for families, officially launched today. This community-suggested and expert-curated destination advances the online daily deal space by combining a family focus with hyper-local geo targeting. The company also announced that it recently closed on a $5.75M Series A funding round backed by Split Rock Partners, strongly positioning them to be involved in of one of the fastest growing industries of all time.

FamilyFinds is led by Internet industry veterans who founded and ran several successful consumer businesses valued at over $1 billion, including the founder of FamilyFun magazine, who also ran the Disney Internet Group, and the founder of LowerMyBills. The team, all of them now parents, have created an online destination that will not only offer member families great deals on new and favorite neighborhood merchants, but will also provide information and resources to help them discover the best family activities in their own and nearby communities.

According to a recent study of moms*, over 70% use the Internet to find deals and discounts (the most popular activity) and 62% go online for entertainment and family activities. FamilyFinds addresses this trend by directly creating a single destination for moms and dads seeking deals and family activity ideas.

“Families, local and national brands, and member-based deals is a great combination for a big vertically focused business, and one that we believe is untapped,” said Matt Coffin, chief executive officer, FamilyFinds.com. “As parents and consumers ourselves, we know the key to unlocking this market is relevance, which means being local, curating deals and fun discoveries that create family memories, and delivering great value-based pricing.”

Through consumer testing and an early beta, FamilyFinds learned that consumer demand, especially for busy families, while value influenced, is also heavily influenced by proximity to the merchant. The company will follow a hyper-local model, offering great finds not just within specific cities around the United States, but within specific neighborhoods. For launch, prior to the nationwide roll-out in 2011, FamilyFinds will serve numerous communities across Los Angeles, including neighborhoods in the Valley, Pasadena, South Bay, City Central, and the Westside.

“We know that moms and families are social and use the Internet not just to find great opportunities for themselves, but also to share and coordinate these opportunities and their experiences with other families, friends and neighbors,: said Brian Barnum, president. “FamilyFinds is building a social layer over everything we do to infuse our core value proposition with insight and access to the larger community of families in our customers’ extended networks.”

FamilyFinds is the collaborative effort of Internet industry veterans and parents, including:

• CEO Matt Coffin, founder of LowerMyBills.com (sold to Experian) and active Internet investor including Demand Media, Buscape (sold), Rubicon Project, Mahalo, Machinima and social eCommerce companies Hautelook, ShoeDazzle and ecoMom.

• Jake Winebaum, who was co-founder of eCompanies, which launched Business.com, Jamdat and Boingo, and founder of FamilyFun magazine and led Disney’s entry to the Internet as Chairman of the Disney Internet Group.

• Doug Hirsch, who was VP of Product at Facebook, GM Yahoo Entertainment and Founder of DailyStrength.org.

• President Brian Barnum who was the President of RHD Interactive (a division of R.H. Donnelly, now Dex One Corp.) and both COO and CFO of Business.com and CFO of Rent.com (sold to eBay).

• Leading content and merchandising is Elizabeth Hurchalla, previous editor of BlackboardEats and co-founding producer of Yahoo! Food.

• Leading editorial is Julie Taylor, previous editor-in-chief at Momlogic.

• Leading sales is Terry McGovern, previous Director of Interactive Sales at Los Angeles Times and sales at AT&T local

Their new website, TheNNT.com, looks at a stat called the “number needed to treat,” which it defines as “a measurement of the impact of a medicine or therapy [that estimates] the number of patients that need to be treated in order to have an impact on one person.” (Here’s the new site’s explanation of the NNT. We’ve mentioned the metric before in a post about gauging heart risk.)

The site summarizes the evidence (taken mostly from systematic reviews like those from the Cochrane Collaboration) behind a range of treatments and therapies, including the Mediterranean Diet for post-heart attack care and antibiotics for ear infections. It also includes, when appropriate, the “number needed to harm,” which indicates how many people you’d have to treat before one is harmed by the intervention. Both stats are presented as a proportion — i.e. one in 42 people will have his or her life saved by taking aspirin after a major heart attack (an NNT of 42), and one in 167 will have non-dangerous bleeding (a NNH of 167).

Read the rest of this post on the original site

Plunk down $2.99 and you’ll  get you the January issue of the magazine, featuring a nearly naked Rhianna, for your iPhone or iPod touch.

Aside from the almost nude pop star on the cover, this one mimics GQ’s first digital issue, which it described as an experiment, in every way. Same price, same treatment of ads and content, etc. The publisher says it’s going to start putting out every issue of the magazine on iTunes going forward, though some stuff could get tweaked down the road.

Starting with the March 2010 issue, for instance, you’ll be able to buy new copies of the magazine “in app,” meaning that you won’t have to download a new app from iTunes every time a new issue comes out. GQ may also tweak pricing and/or offer a subscription instead of one-offs.

Condé says it is gearing up to put out another title in the same format, though it won’t say which one (Do you know? Drop me a line, please.) I should note that Hearst’s Esquire rolled out its first iTunes issue/app today as well. No coincidence that both publishers are starting with aspirational dude-centric titles.

This stuff doesn’t seem as sexy as the plans the publishers have for much heralded but little seen tablets that Apple (AAPL) and others are supposed to be cooking up. That’s probably in part because it’s always more fun to think about things that could exist, as opposed to ones that are already extant.

But I think this is as important, in its own way, as the tablet demos we’ve seen from Condé, Time Warner’s (TWX) Time Inc., Bonnier, etc. And as relevant as the “Hulu for Magazines” consortium the publishers have finally announced.

Because Condé’s iPhone app is a pretty good proxy for the stuff the magazine guys want to eventually produce. And if people are buying this one (Condé won’t release numbers yet, but says it will eventually), then that’s a hopeful sign for the more advanced stuff we’re supposed to see one day.