Groupon is rethinking its decision to go public in light of the recent stock market turbulence, says an individual close the issue.

“The Chicago-based daily deals site isn't cancelling its initial public offering, said this person, but is reassessing the timing for an IPO on a week by week basis,” reports the Wall Street Journal. “Groupon had originally been aiming to go public after Labor Day and to price its shares in mid-September, this person said, adding that the company had set up a roadshow next week to attract potential investors to the stock.”

This source, according to the newspaper, states that Groupon has now canceled the roadshow and is in a holding pattern as far as IPO plans. The company is looking in particular at the economic climate in Europe, this individual adds.

“The person also said that the U.S. Securities and Exchange Commission contacted a Groupon attorney last week, asking them to answer a series of questions related to a recently leaked memo in which Groupon Chief Executive Andrew Mason touted the company to employees,” continues the Wall Street Journal. “Making public statements about the financial status of a company during an IPO process is prohibited by SEC rules.”

Groupon declined the Wall Street Journal’s request for comment, and the SEC did not respond immediately.

Just yesterday, Market Platform Dynamics CEO Karen Webster commented that it’s time for daily deals sites to think about strategies that leverage their consumer and merchant base in a way that builds value well beyond a discounted coupon. Click here to read her complete commentary.

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Related: Drama in Deal-Land