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BUSINESS
August 13, 2012 | By Ameet Sachdev
Groupon Inc. said Monday its international sales slowed significantly in the second quarter, raising new concerns about popularity of online coupons even though the company met its profit projection for the quarter. The Chicago-based daily-deal website posted net income of $28.4 million, or 4 cents a share, in the quarter ended June 30. In the year-ago quarter, Groupon lost $107.4 million, or 35 cents a share. Revenue grew 45% to $568.3 million, from $392.5 million a year earlier.
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BUSINESS
June 13, 2012 | By Salvador Rodriguez
Square, the mobile payment start-up, announced it has hired a chief financial officer while also giving some metrics for the state of the company. Sarah Friar, a former VP atsalesforce.com, was announced by Square as its chief financial officer Wednesday. “Square was founded on a commitment to help people start and grow their business,” Friar said in a press release from the company. “I'm thrilled to join a company driving meaningful economic growth while revolutionizing the payment experience for consumers.” Friar's hiring comes as the young company is rumored to be seeking another round of funding, which has become a little harder for tech companies recently, thanks to Facebook and its IPO . But it isn't all bad in the world of Square.
BUSINESS
May 26, 2012 | By Salvador Rodriguez
Groupon has begun testing a mobile credit card reader, encroaching on a domain innovated by Square that PayPal has also recently entered. The Groupon payment platform will charge a 1.8% transaction fee along with a 15-cent transaction charge. At that rate, the fee is less than Square's 2.75% or the 2.7% charged by PayPal Here and Verifone SAIL, another player in the market. However, Groupon's competitors don't have a transaction fee. Groupon is giving the card readers away free to merchants along with an iPod Touch, according to VentureBeat That's more than Groupon's competitors, which just hand out readers.
BUSINESS
May 19, 2012 | By David Sarno, Los Angeles Times
Wall Street didn't get the Facebook effect it was hoping for. In a sign that the social networking giant may have already become a bellwether for its sector, shares of virtually every social media company sank Friday with Facebook Inc.'s lackluster debut on the stock market. Anticipating that Facebook would have a big day, investors had loaded up on social media stocks in recent weeks. Many backpedaled when Facebook's shares barely budged, rising just 23 cents, or less than 1%, from the initial public offering price of $38. "They were playing for a pop and didn't get it," said Michael Pachter of Wedbush Securities.
BUSINESS
May 18, 2012 | By Tiffany Hsu
Just before reporting bullish earnings after the close of trading Monday,Groupon Inc.stock soared 18.5% during its trading day. Does that a FINRA probe make? Hard to say. The Wall Street Journal, quoting a source familiar with the matter, is reporting that the Financial Industry Regulatory Authority has launched a probe into the matter. Trading volume at the daily deals company spiked far above the norm Monday to 16.5 million shares.   FINRA is staying mum. Groupon declined to comment.
BUSINESS
May 18, 2012 | By Salvador Rodriguez
On the day Facebook went public other social media stocks have begun to drop like flies. Social media companies such as Zynga, LinkedIn, Groupon and Pandora that went public in the last year began Friday with some poor results, each seeing its stock price drop in the same fashion that Facebook stock began the day. Zynga, the social gaming site that relies on Facebook for the bulk of its users, was the biggest early loser. It saw an all-time low for its shares, at one point hitting $7.10, according to Yahoo Finance.
BUSINESS
May 8, 2012 | By Michelle Maltais
If you've got a Lumia, then you'll get a bunch of new apps, including Groupon, that no other Windows Phone will get to tap into right away.  On Tuesday, Nokia announced that the ESPN Hub, PGA Tour and AOL Entertainment Hub apps and an upgraded Groupon app will be available on the Lumia handset before other Windows Phone devices. Although Groupon is already available in the Windows Marketplace, Lumia owners will be the first to experience the app's extensive upgrade incorporating augmented-reality real-time local virtual deals for the first six months after it's launched this summer.
BUSINESS
May 7, 2012 | By Tiffany Hsu
Groupon Inc.is more than “a glorified mailing list,” wrote Chief Executive Andrew D. Mason in a glowing, ambitious letter to shareholders on Monday. What's currently known as a daily deals company is going to “profoundly change the way we shop locally,” he wrote. The company's stock basked in Mason's optimism , rising nearly 5%, or 48 cents, to $10.45 in early afternoon trading in New York. Since debuting in November at $20 a share, Groupon's share price has been on a slump due to investor doubts, earnings restatements and leadership instability.
BUSINESS
April 30, 2012 | By Wailin Wong
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.
BUSINESS
April 24, 2012 | Bloomberg News
Groupon Inc. is seeking to add at least two directors to its board in a bid to regain investor confidence after a restatement of revenue last month, two people familiar with the matter said. The largest provider of online daily deals aims to recruit a new director who could eventually lead its audit committee, said one of the people, who asked not to be named because the plan is private. Potential candidates include chief financial officers at publicly traded companies, the person said.
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