Advertisement
 
YOU ARE HERE: LAT HomeCollectionsGroupon
IN THE NEWS

Groupon

BUSINESS
January 21, 2013 | By Samantha Bomkamp
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.
Advertisement
BUSINESS
November 29, 2012 | By Tiffany Hsu
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.
BUSINESS
November 28, 2012 | By Tiffany Hsu
On Thursday, Groupon Inc.'s board members will reportedly debate the fate of Andrew Mason, the chief executive of the struggling daily deals site. But then again, “it would be weird” if they didn't, he said. “It's their chief responsibility to ask that question.” After all, this is a company whose stock has tanked since it went public barely a year ago. Experts are claiming “deal fatigue” among consumers overwhelmed by an onslaught of online coupons and discounts.
BUSINESS
November 9, 2012 | By Tiffany Hsu
Whatever is happening with Groupon Inc., investors don't like it, sending the daily deals company's stock to  another record low. Shares fell below $3 for the first time Friday, hitting $2.75 a share from $3.92 a share Thursday after the Chicago company reported dour earnings that missed even its own forecasts. That's a nearly 30% plunge. Groupon had predicted that its revenue for the third quarter would come in between $580 million and $620 million. When the figure came in instead at $568.6 million, investors rebelled, even though the measure was up 32% from the year-earlier period.
BUSINESS
November 5, 2012 | By Tiffany Hsu
Need an incentive to vote besides a deep sense of civic duty? Many companies are hoping to lure patrons to the polls by offering Election Day promotions. Low-cost airline JetBlue Airways Corp. is dangling the chance to win a free flight out of the country for consumers whose favorite candidate loses. Participants in the JetBlue Election Protection poll will be entered into a drawing to earn round-trip fare to any of the airline's destinations to the Caribbean or Mexico. Car-sharing company Zipcar Inc. will offer half-off hourly rates during polling hours to members as part of its “Zip to the Polls” program.
BUSINESS
September 22, 2012 | By Wailin Wong
CHICAGO - Call it a daily deal, with a twist. Nearly four years after Groupon introduced the concept, smaller rivals that had sought to replicate the Chicago giant's early, explosive success are making tweaks to take advantage of lessons learned - sometimes painfully. "There was a large amount of exuberance for the first couple of years in the industry, and now players - both on the daily deals side and on the merchant end - have gotten very sophisticated about what works and what doesn't," said Jim Moran, co-founder of Yipit, a deals aggregator that also tracks sector data.
BUSINESS
September 10, 2012 | By Wailin Wong
In spring 2011, Groupon Inc. was said to be worth as much as $25 billion — an amazing valuation for a company that still isn't 4 years old. Today, the daily deals pioneer is no longer the same tech darling. Groupon has kept growing, but an onslaught of criticism about its business model has come at a real price. The Chicago company that was worth $13 billion when it went public in November now has a market capitalization of $3 billion. Groupon's stock is down nearly 80% year to date.
BUSINESS
August 20, 2012 | By Wailin Wong
Shares of Groupon Inc. continued their downward march amid persistent worries over the daily-deal company's growth prospects and the flagging confidence of its institutional investors. Groupon's stock closed down 2.1% on Monday at an all-time low of $4.65. Shares have tumbled 38% from a week earlier, when the company reported quarterly earnings that disappointed the market. The stock has dropped more than 75% year-to-date. "I think it's the aftermath of the earnings that we're still feeling," said Arvind Bhatia, an analyst at Sterne Agee.
BUSINESS
August 14, 2012 | By Walter Hamilton
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.
BUSINESS
August 14, 2012 | By Walter Hamilton
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 revenue growth failed to meet expectations. It's not that the fundamentals have been all that bad: Groupon's second-quarter revenue, for example, rose 45%. But investor sentiment has turned against the sector as investors acknowledge that reality isn't living up to overinflated expectations.
Los Angeles Times Articles
|