Groupon Revenue Surges This Quarter, But Reports Net Loss Of $37 Million
Today Groupon has released their Q4 2011 report and they revealed 194% increase in revenues from $172.2 million in 2010 to $506.5 million this year. However Groupon reported a net loss of $37 million. This is the company’s first quarterly results since they became a public company this past November.
Groupon also stated that they had a net loss of $275 million in 2011 compared to $413 million the year before. One of the reasons why they had these results is because the company expanded into other areas of commerce and regions around the world. Groupon’s revenues in 2011 was $1.6 billion compared to $312.9 million in 2010.
Currently Groupon’s active customer based worldwide is 33 million, which is an increase of 275% year over year. Over 26 million people have downloaded the Groupon app on their phone.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry