Feeds

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

Gmail rejig expected to hit next quarter's results too

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.