Feeds

Groupon sees surge in subscribers, scrubs contentious fiscal metric

Could rejig affect $25bn valuation?

Build a business case: developing custom apps

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. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.