Market hearsay on Tuesday went that Groupon Inc., a Chicago-based daily deal website, has canceled the road shows for its initial public offering (IPO) scheduled to be made next week and is reassessing the timing of IPO due to drastic volatility on the stock market.

An informed source disclosed that Groupon isn't canceling its initial public offering, but is reconsidering the timing for an IPO on a week by week basis. The company originally planned to go public after Labor Day and to price its shares in mid-September.

The source added that given the recent drastic ups and downs on stock market, Groupon executives had started taking a wait-and-see approach.

The daily deal operator filed for IPO in June this year.