Feeds

Groupon sees surge in subscribers, scrubs contentious fiscal metric

Could rejig affect $25bn valuation?

Internet Security Threat Report 2014

Daily deals website Groupon is reportedly set to jack in a controversial accounting metric that it previously considered to be a good way to measure how well the company was performing.

According to All Things Digital, which cites sources close to the matter, Groupon will tweak its S-1 public offering filing to scrub out a metric called adjusted consolidated segment operating income (ACSOI).

It is understood the Chicago-based Groupon, which was co-founded by Andrew Mason, faced regulatory pressure to remove the metric from its filing that was submitted in June.

Separately, the coupon company has seen its subscription list double in the six months since it rejected a $6bn takeover offer from Google.

Groupon, which filed for an IPO in June in a move to raise $750m, reportedly has 115 million subscribers, according to Reuters.

At the end of last year, that list stood at around 50 million sign-ups.

Groupon has deals with around 57,000 local merchants based in 43 different countries and could be valued as high as $25bn. Sales at the firm rose to $644.7m in the first quarter of this year compared with $44.2m for the same period in 2010.

It sold 28.1 million coupons in Q1, but the company notched up a $102.7m loss in the quarter.

Groupon's potential valuation would blow Google's $6bn bid out of the water. That said, the company now faces competition from, among other contenders, Google, after it launched its own Offers product to compete with Groupon. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.