Tag Archives: Groupon
Groupon’s Stock Price Jump Before Earnings Announcement Being Reviewed
Groupon is being investigated about why their stock price jumped hours before a favorable earnings announcement on Monday according to sources with The Wall Street Journal. The investigation is being conducted by Financial Industry Regulatory Authority (Finra). The investigations are in early stages. Groupon’s stock price had jumped 18.5% Monday from the close on Friday. Over 16 million Groupon shares had changed hands on Monday. This is about four times the average daily volume for the past 30 days.
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Groupon CEO: “We Drove Well Over $2 Billion To The Small Businesses Of Main Street”
I have heard several stories from small businesses that they have been screwed by Groupon’s business model. Groupon encourages small businesses to offer large discounts in the form of a daily e-mail coupon and when people buy it, Groupon takes a 50% cut of that lower price. However there is no denying that Groupon has encouraged customers to go into restaurants and businesses that they would not normally find out about on their own. “We drove well over $2 billion to the small businesses of Main Street, helping them to overcome challenging global economic conditions,” said Groupon CEO Andrew Mason in a note to stockholders.
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Categories Andrew Mason, Groupon
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Groupon Now Hits 1.5 Million Deals Sold
As you know Groupon.com lets you buy a daily deal through an e-mail. You cannot use that discount on the same day, but you can use deals on the same day that are purchased through Groupon Now. Groupon has announced that Groupon Now sold 1.5 million deals in about a year. It took the original Groupon 15 months to hit that same milestone. The 1.5 millionth purchase was made at CiCi Nails in Chicago where someone bought a $42 manicure and pedicure for $30. Merchants are able to customize Groupon Now through a dashboard and managing how many people can take advantage of the offer at a time. Groupon Now is available in 31 out of 175 North American Groupon markets. They plan to expand Groupon Now to additional markets soon.
Categories Groupon, Groupon Now!
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Groupon Acquires Ditto
Groupon has acquired Ditto.me. Ditto.me is a service to help you discover new restaurants, movies, and things to do with your phone. Ditto said that they cannot reveal what they are doing at Groupon, but they will be winding Ditto as a result of the acquisition on April 30th. [Ditto Blog]
Categories Ditto, Groupon
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Groupon Gets Hit With First Shareholder Lawsuit
It is rumored that Groupon will be investigated by the SEC for the third time over questionable accounting practices. A man in Chicago is seeking compensation on behalf of Groupon shareholders that were allegedly tricked into buying Groupon’s stock at high prices.
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Categories Fan Zhang, Groupon
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Groupon Stock Price Starts Plummeting After SEC Probe
The U.S. Securities and Exchange Commission is investigating Groupon restating the fourth-quarter results according to a source with The Wall Street Journal. The SEC’s probe into Groupon is currently in a “preliminary stage.” This would be the third time that the SEC would investigates Groupon since their IPO on November 4th. The news about the investigation has caused Groupon’s stock price to drop about 17% to $15.27.
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Groupon Restates Quarterly Revenue Due To Higher Merchant Refunds
Groupon Inc. has reported a “material weakness” in their fourth quarter results, which is worse than previously stated because of a higher number of refunds to merchants. The revisions had reduced revenues in the period by $14.3 million to $492.2 million. Groupon reported $506.5 million last month. Groupon has been notorious for finding errors in their financial statements filing for their IPO in June. About two months after their prospectus, Groupon had abandoned a controversial accounting method for operating income after a review by the SEC.
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Groupon Buys Travel Startup Company Uptake
Groupon has acquired the travel startup company Uptake. The acquisition was believed to be between $10 and $20 million. Uptake allows users to plan their vacations. Uptake has travel-related content and recommendations based on the social graph.
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Categories Groupon, Shasta Ventures, Trinity Ventures, Uptake
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Groupon Acquires Kima Labs and Hyperpublic
Groupon has acquired mobile payments company Kima Labs and geolocation technology company Hyperpublic. Kima Labs is known for building the mobile barcode reading app called Barcode Hero and mobile payment app TapBuy. Groupon acquired a New York City based startup company called Hyperpublic, which is a geolocation service with layers of information on it like deals and events.
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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.
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Categories Groupon
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