Feeds

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

Gmail rejig expected to hit next quarter's results too

Website security in corporate America

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. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
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.
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 for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.