January 24, 2011 |
U.S. venture capitalists began to dip back into their pockets in 2010 after sitting tight the year before, but the number of deals made and the amount invested still trailed pre-recession levels, according to the Dow Jones VentureSource report. Companies around the country scored $26.2 billion in 2,799 venture capital deals ? an 11% increase in funds from the year before and a 6% increase in deals ? according to the report released Monday. Even with the lift, investment is still lagging behind the period from 2006 to 2008, when venture capitalists stuffed more money into more agreements.
July 26, 2011 |
The largest number of initial public offerings in four years is scheduled this week as U.S. companies rush out deals to capitalize on investors' sudden ardor for new issues. Eleven IPOs - led by the parent of Dunkin' Donuts - will go public as Wall Street gears up for what could be a frenetic period for IPOs. Investors are being drawn to the IPO sector by the recent huge gains in Internet-related companies such as LinkedIn Corp. and Zillow Inc. and by the growing excitement over upcoming deals from the likes of Zynga Inc. and Groupon Inc. Shares of LinkedIn, the social-media service for professionals, more than doubled on its first trading day in May, while real-estate website Zillow shot up 79% last week.
CALIFORNIA | LOCAL
August 13, 2011 |
My daughter thinks they are spying on us. The "74% Off Haircut Package" offer arrived from Groupon just as she was putting away her credit card, after paying the bill at her beauty salon. Amazon's "Half Off Carpet Cleaning" coupon showed up on her cellphone moments after a friend's text message about getting the carpets cleaned at his house. Daily Deal's "Laser Vision Correction" discount landed in my inbox while I was walking out of my optometrist's office, with a new pair of eyeglasses in my purse.
March 31, 2012 |
CHICAGO — Groupon Inc. revised its financial results for the fourth quarter and fiscal year, reporting a $14.3-million decrease in fourth-quarter revenue. The Chicago-based daily deals company said it had not set aside enough money for customer refunds. When this refund allowance was adjusted, Groupon posted a decrease in revenue. In a statement, the company acknowledged "a material weakness in its internal controls. " Groupon elaborated on these shortcomings in a filing with the U.S. Securities and Exchange Commission, saying that its financial procedures were insufficient for supporting "accurate and timely" reporting of its results.
August 8, 2013 |
A little over a year ago, Groupon Inc. was facing a grim outlook over its long-term viability. The company's profit was less than stellar. It faced growing competition from other companies offering deals on restaurants, retail stores and gyms. And its stock was plunging fast just months after it went public. But on Wednesday, the Chicago-based company posted second-quarter earnings that beat expectations and announced the permanent appointment of Eric Lefkofsky as the company's chief executive.
November 4, 2011 |
Investors clamored for a piece of Groupon Inc. on its first morning as a public company, sending shares of the online coupon company up nearly 50%. In the early hours of trading on the Nasdaq exchange Friday, shares of Groupon were up 43%, or $8.50 from its $20 initial public offering Thursday afternoon. The gains came even as the rest of the stock market was falling. The technology heavy Nasdaq composite index was recently down 1.5%, or 39.50 points to 2658.47. The $20 IPO was already above the $16 to $18 range that had been expected, and it signaled strong investor demand for the company.
April 30, 2012 |
Groupon Inc. is bringing on two new directors to replace Starbucks Corp. Chief Executive Howard Schultz and venture capitalist Kevin Efrusy on the board. The two are Daniel Henry, chief financial officer of American Express Co., and Robert Bass, a retiring vice chairman at consulting firm Deloitte. They will serve on Groupon's audit committee. Henry was appointed April 26 to replace Schultz, who stepped down. Bass is retiring from Deloitte on June 2 and will stand for election at Groupon's annual meeting that month to replace Efrusy of Accel Partners.
August 14, 2012 |
Stocks in the beleaguered social-media sector keep heading down. Shares of Angie's List Inc. and Groupon Inc. plunged Tuesday as investors continued their retreat from the formerly red-hot sector. Angie's List, the consumer-review website, fell sharply as a ban on insider sales expired and major shareholders rushed for the exits. Groupon shares sank as investors were rattled by disappointing revenue growth. The fundamental news hasn't been all bad -- Groupon's second-quarter revenue, for example, rose 45%. But investor sentiment has quickly turned against the sector as investors acknowledge that reality isn't living up to over-inflated expectations.
November 20, 2013 |
CHICAGO - Groupon is giving away stuff now. The Chicago-based company, which is trying to reshape itself into a sprawling e-commerce marketplace, has started offering national brand promotion codes and coupons that do not require an upfront purchase. Groupon calls the category "Freebies" and said more than 5,500 brands, including Best Buy, Nordstrom and Sephora, are participating. Freebies is available just in the U.S. for now, though the company expects to roll out the category internationally next year.
July 1, 2013 |
Groupon Inc. has OpenTable Inc. in its cross hairs, launching a similar restaurant-booking service to complement its daily deal offerings. The new Groupon Reserve program is already live in 10 cities, including Los Angeles, New York, San Francisco and Washington. By the end of the year, Chicago-based Groupon expects to expand the set-up to the rest of the country and abroad. At the moment, Groupon Reserve only allows users to put their names down for discounted meals. The program, which uses table-finding technology from Savored.com, gives patrons a bargain on their bill without requiring them to print out vouchers or pay for their food in advance.