January 22, 2011 |
Google Inc. has launched testing of Google Offers, a product that could rival the popular Groupon daily deal voucher website. The move to develop such a service comes after Google reportedly tried and failed to buy Chicago-based Groupon for as much as $6 billion. "Google is communicating with small businesses to enlist their support and participation in a test of a pre-paid offers/vouchers program," Nate Tyler, a Google spokesman, said. "This initiative is part of an ongoing effort at Google to make new products, such as the recent Offer Ads beta, that connect businesses with customers in new ways.
January 21, 2013 |
Groupon Inc. has stopped all current and future gun-related deals, bowing to customer pressure a month after the deadly mass shooting in Newtown, Conn. The Chicago company said it has canceled existing and planned discounts for shooting ranges, conceal-and-carry and clay shooting. A statement from Groupon didn't specify the company's motives or when it would resume such deals, other than to say that the "category is under review following recent customer and merchant feedback.
November 2, 2011 |
Groupon Inc. is stopping taking orders for its initial public offering a day earlier than planned because of demand for the shares, said two people familiar with the sale. The Chicago-based company planned to close the order book for stock at 4 p.m. New York time today, said the people, who declined to be identified because the matter is private. Groupon's shares are scheduled to price tomorrow evening and begin trading on Nov. 4. Groupon is floating a record-low percentage of its total outstanding shares in the IPO, helping to stoke demand for the stock.
November 29, 2012 |
Daily deals site and Groupon competitor LivingSocial cut 9% of its workforce Thursday, laying off 400 employees as it evaluates its recent “hypergrowth,” a spokesman said. Though several dozen of the employees worked in LivingSocial's international offices, most of the downsizing happened domestically, said spokesman Andrew Weinstein. Most of the slashed positions were in sales and customer service as the company shifts resources from its Washington, D.C., base to a new call center in Tuscon.
December 4, 2010 |
Maybe a coupon would have helped. Chicago-based Groupon Inc. has turned down an acquisition offer from Google Inc. and is staying independent, according to two sources with direct knowledge of the situation. The two companies had been engaged in talks, with speculation about the corporate marriage reaching a fever pitch over the last week. Google had reportedly offered between $5 billion and $6 billion for the group-buying start-up, which offers major discount coupons for local services.
December 8, 2010 |
Do not be fooled by the odd selection of books in the reception area, where visitors can choose from "The Pop-Up Book of Phobias" or "Awkward Family Photos. " Do not be fooled by the whiteboards that are covered with detailed caricatures and inside jokes. And definitely do not be fooled by the elaborately decorated conference room that sports pale blue shag carpeting, a twin bed and a nonworking toilet filled with chocolate coins in shiny wrappers. This room belongs to "Michael," who, according to company lore, lived there first and has been allowed to stay, although he's rarely, if ever, seen on the premises.
December 29, 2010 |
Groupon Inc., which recently turned down a takeover bid from Google rumored to be as high as $6 billion, is out to raise money on its own in a big way. The online coupon company's board has authorized it to raise up to $950 million, according to a report from the website VCExperts.com. That would be the largest round of equity financing since Pixar sought about $500 million in 1995. A Groupon spokeswoman declined to comment, but Andrew Mason, the company's founder and chief executive, wrote in a Tuesday evening Twitter message, "Groupon is in the process of completing a new round of financing ?
November 30, 2010 |
Google may be on the verge of clinching its biggest deal yet with a reported $5-billion bid for Groupon, the fast-growing company that is blitzing the Internet with daily coupon deals. The purchase would extend Google's dominance in online advertising, helping it gain local business dollars to fend off surging competition from Facebook Inc., which rolled out its own deals initiative last month. Groupon sends its subscribers daily e-mails offering 50% to 90% discounts on products and services, such as spa treatments, fitness classes and restaurants.
November 4, 2011 |
Investors apparently think Groupon Inc. is a deal. The online-coupon site priced its initial public offering at $20 a share, exceeding the initially projected range of $16 to $18, as demand materialized despite lingering concerns about Groupon's accounting and business model. "I'm not surprised there's more demand because a lot of times these IPOs are structured in a way to maximize the demand," said Anupam Palit, senior equity analyst at GreenCrest Capital Management in New York.
March 15, 2011 |
Facebook plans to test a Groupon-style feature as part of its existing Deals service, which lets businesses pitch offers to users of the popular social networking site. Facebook will launch the new daily deal in San Francisco, San Diego, Atlanta, Dallas and Austin, Texas, over the next few weeks. With more than 600 million users, Facebook may have the critical mass to tap into the booming online deal market and compete with market leaders Groupon and LivingSocial. Facebook will showcase deals and encourage users to share those deals with friends.