Feeds

Groupon splurges $260m on Korean deals firm as cash bleed continues

Gmail rejig expected to hit next quarter's results too

Choosing a cloud hosting partner with confidence

Groupon has announced that it will be buying Ticket Monster, the Korean firm owned by its daily deals rival Living Social, as it reports another quarterly loss.

The voucher bazaar said it would pay $260m in cash and stocks for the company, which offers a "broad range of product, local and travel offers".

Groupon added that the company, known locally as TMON, has annual billings of more than $800m and gets around half of its sales from mobile devices.

At the same time, the firm said that its sales had lifted slightly in the third quarter to $595.1m, up 4.7 per cent, although it still made a net loss of $2.58m. New chief exec Eric Lefkofsky, tasked with turning the firm's fortunes around, said that the company's performance in mobile had improved, with a record nine million app downloads in the quarter.

The company said it expects revenue in the next quarter of between $690m and $740m, with operating income of between $40m and $60m, affected by market spending to drive adoption of its Pull marketplace and the rejig of Google's Gmail service.

Gmail now separates email promotions into their own tab in the inbox, causing fewer people to click on Groupon's daily deals emails, CFO Jason Child said in an interview with Bloomberg. ®

Intelligent flash storage arrays

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.