Groupon Picks Up Breadcrumb For A Little Point-of-Sale Magic. Groupon just announced via its blog that it has acquired Breadcrumb, the creators of an affordable point of sale system and iPad app that targets local restaurants.
While the terms of the deal have not yet been disclosed, Groupon has made a run of acquisitions over the last six months, and this move is likely one being made half for talent and half for access to the startup’s client roster. That being said, we’re hearing from sources close to the deal that the acquisition price was in the $10 to $15 million range, with a sizable retention pool for founder Seth Harris along with the sales and support team that will be staying on.
The move comes as the daily deals behemoth looks to create more defined inroads with local mom and pop restaurants in accordance with its post-IPO mission to become “the OS for local commerce” — adding Breadcrumb and its technology to the fold is a step in that direction. As for Breadcrumb users? The startup’s website is currently down, but you can find it here. Groupon Now! Reaches 1.5m Real-Time Deals Sold in 12 Months. Daily deals pioneer Groupon announced today that its real-time, location-based offers service Groupon Now!
Has reached 1.5 million deals sold in a year from its launch, achieving the milestone three months quicker than its traditional deals service. In what will be of little surprise to anyone, Groupon’s 1.5 millionth deal was a beauty treatment — a $30 manicure from a nail bar in Chicago. Groupon Now! Launched in May 2011, delivering a spin on the traditional Groupon model of offering one deal a day in a user’s local area. Instead of just one deal a day, it offers local deals at any moment of the day. Dan Roarty, VP of Groupon Now! Groupon Now! Groupon-travel. Why Groupon is poised for collapse. Groupon was forced to restate fourth quarter earnings, sending its stock down 6% in after-hours trading.
This surprised me as much as my $2 investment in the Mega Millions jackpot not paying off. The reasons for Groupon’s restatement were higher refund reserves and weakness in internal controls. These are issues I’ve repeatedly discussed. I raised them directly with Groupon PR in September (back when they still would speak to me) and I was assured that refunds weren’t an issue for Groupon. I also spoke with a former Groupon salesperson who claimed he was fired because he raised concerns about poor internal systems that didn’t track deals correctly and complaints about poor risk management when it comes to running deals. So what’s happening at the coupon company? Well, for starters, it’s not a coupon company nor a marketing company. UPDATE – As the Stock Price Tumbles, Lawyers See Groupon as a Juicy Target Travel is another risky category for Groupon.
Groupon Reports Mobile App Growth, International Expansion Plans. Groupon announced at the 2012 Mobile World Congress in Barcelona on Monday that it experienced a record-breaking month in December among mobile app users, as one quarter of all Groupon vouchers were purchased via a mobile device.
The deal-of-the-day site said usage of its mobile app more than tripled over the previous year to 9 million users as of December. To expand the reach of its app, Groupon also revealed plans to roll out mobile service to more than 30 countries in the near future. It already has its daily-deal service via the web available in 48 countries. The company will be expanding its partnership with Nokia to bring the location-based service to global customers and allow users to purchase deals directly from mobile devices. Over the past year, Groupon's U.S. mobile app has been enhanced with an improved user interface and new deal types, including Groupon Getaways travel features, Groupon Goods products and Groupon Now! SEE ALSO: Groupon Announces $30-Per-Year VIP Program. [Groupon] 308 millions de dollars de pertes en 2011. Groupon Buys OpenCal, Launches Online Appointment Booking Service ‘Scheduler’ Now this makes a lot of sense.
Groupon this morning announced its latest product, dubbed Groupon Scheduler, an online appointment service that makes it easier for both end users and merchants to go from offer to actual booking. Groupon Scheduler is based on technology from OpenCal, a Vancouver, Canada-based startup Groupon apparently – quietly – acquired in September 2011.
The new product will become available to Groupon merchants and consumers in Sacramento and Miami beginning on December 7, 2011 (i.e. today) and be rolled out in other markets “soon after”. Terms of the acquisition were not disclosed. More about Groupon Scheduler, straight from the press release: Business owners using Groupon Scheduler can set up an appointment calendar covering all their staff, services and business locations, allowing consumers to instantly book appointments online without having to call or email. In other words, this marks Groupon’s entry into the online booking services market. Groupon Is Now Worth Less Than $10 Billion. It just won’t stop dropping.
Groupon, which at one point traded for more than $26 a share, has dropped to $15.24 and continues to drop in after-hours trading. That’s nearly 25% down from its $20 IPO strike price. At $26, Groupon was worth around $18 billion. At $20, it was worth $12.7 billion. And at $15.24, it’s worth just $9.72 billion. This is a freefall that’s feeding upon itself. I never thought I’d say this: I’m starting to think that Groupon should have taken Google’s $6 billion acquisition offer. Groupon dévisse en bourse. Groupon Prices Its IPO At A $12.7B Valuation, Has A Lot To Prove. Groupon has priced its IPO at $20 a share according to reports, which would give the company a $12.7 billion valuation and mean that it’d be seeking $690 million in tomorrow’s offering, by floating only 5.4 percent of its shares.
Right before the pricing news hit, I sat down with SoftTechVC founder and Groupon shareholder Jeff Clavier to talk about the strategy behind the company’s decision to go public. Clavier guessed accurately that Groupon’s IPO pricing would be about $20 a share and dismissed earlier reports of a $25 billion valuation as unrealistic. Groupon Prices Its IPO At A $12.7B Valuation, Has A Lot To Prove On the more modest pricing; “They need a warm reception in the public market, because they have all this baggage — They have all this bad history of press and analysts hating the company,” Clavier said, referring to press coverage of their unconventional accounting on Groupon’s S-I as well as its tricky international expansion and scaling issues.
Groupon IPO Shares Pop 40% On First Trade, Debuts At $17.8B Market Cap. After some timing drama, daily deal site Groupon finally has begun trading on the NASDAQ this morning, in the most hotly anticipated and largest Internet company IPO since Google.
The company — which trades under the ticker $GRPN — priced its shares at $20 last night, but began trading at $28, an increase of 40%. Like LinkedIn, Groupon is only floating a small amount of shares, 35 million – about 5.5% of its 637.3 million shares outstanding. The first trade would pin its market cap at 17.8 billion, with a 980 million raise. Groupon filed its S-1 in early June and since has a had a bumpy road to today’s IPO, with negative press coverage (including) and reports of drastically decreased pricing plaguing the three-year old company.
Its revenues on its S-1 for 2010 were adjusted from $713 million to $313 million due to errors in reporting. It’ll be interesting to observe the stock’s performance today, to say the least. Pic via Julie_Mo/Emily Chang. Groupon : les clés du succès.