Groupon has announced CommerceInterface, a web-based channel management technology company. Groupon is not only the owner of the company now, but they have been a CommerceInterface customer since April 2012. The company relied on CommerceInterface to power “interactions with thousands of existing vendors.” Groupon used CommerceInterface to grow the Groupon Goods platform.
Groupon’s stock suddenly surged earlier this week. Why did this happen? Because there was speculation that Google may acquire the company. Groupon turned down a $6 billion acquisition offer from Google in December 2010 and chose to raise $950 million in Series G one month after that.
Groupon said yesterday that Kal Raman has been named as the chief operating officer. Mr. Raman was previously the senior vice president of global sales and operations. Mr. Raman joined Groupon this past April and will fill in an executive role that has been vacant since September 2011. Groupon had hired Margo Georgiadis from Google as COO last year. She resigned from that position five months later and re-joined Google as the president of the Americas.
Groupon has announced their Q3 2012 results today. The company has reported revenues of $586.6 million and earnings per share at $0.00. Groupon lost $3 million during the quarter including “stock-based compensation and acquisition-related expenses.” This totaled around $25.1 million, which is a bit more favorable to their Q3 2011 loss of $54.2 million. The revenue figure is up 32% year-over-year and the North American revenue for the company is up 81% year-over-year. Some good news for the company is that they surpassed the 200 million subscriber mark this quarter.
This past May Groupon acquired a company called Breadcrumb. Breadcrumb is a point-of-sale company that was created for the hospitality industry. Breadcrumb’s technology would be used to replace older systems of past years and replace them with a nicely designed and affordable iPad app. Breadcrumb has the ability to process sales by supporting a card swiping attachment for the iPad.
Groupon has acquired a company called Savored, which is a restaurant reservation and discount meal provider. The financial terms of the deal was undisclosed. Savored is used by around 1,000 restaurants and gives diners discounts of up to 40% when they book through their website. Groupon will keep Savored running independently. Savored’s team will be working on the Groupon Now! product team and will report to VP Dan Roarty. Savored used to be known as VillageVines and then they rebranded in 2011. Check out the press release below:
After Groupon went public, Andreessen Horowitz sold their shares in the company to make a $14 million profit. Andreessen Horowitz (a16z) invested $40 million into Groupon in early 2011 for 5.1 million shares. They sold their entire stake in the company on June 1st after the expiration of the stock lock-up period. a16z’s decision to sell their stake was probably a good idea because they would currently be at a loss of $15 million if they maintained their stake based on the stock price of Groupon today according to VentureBeat.