Feeds

Groupon sees surge in subscribers, scrubs contentious fiscal metric

Could rejig affect $25bn valuation?

The essential guide to IT transformation

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. ®

Boost IT visibility and business value

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.