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Groupon’s Revenue Numbers Worsen

By Lacy Bryant on September 27, 2011 10:55 am in Latest News, Stock News, US News, World News / no comments

Groupon posted a revised financial statement lowering its revenues to $393 million in the second quarter of 2011, compared to initial $878 million, according to its S-1 registration statement. In fact, the company shifted from a gross measure of revenue to a net one, losing some $400 million in revenue in the process.

Groupon Revenue Down

The news might jeopardize the company’s planned $750 million IPO and force market analysts to re-evaluate the company’s valuation, which now stands at $ 20 billion by more than a half. In addition, a second COO is leaving the company in less than a year with Margo Georgiadis returning to her previous employer Google. Earlier, Rob Solomon spend only two months as COO of Groupon, which also fuels rumors there is something wrong in the business model of the company, according to market analysts.

LivingSocial, Groupon’s closest competitor, is close to finalizing a $200 million IPO that will value the company at $6 billion and will give them a boost over competitors Groupon in case they are able finalize an IPO before Groupon. The the U.S. Securities and Exchange Commission (SEC) put Groupon’s IPO under scrutiny over its accounting practices, barring the company from going public until its accounting practices are put in compliance with the U.S. accounting standards.

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About the author

Lacy Bryant is a devoted writer who has a passion for the entertainment industry. Her experience has allowed her to speak with top name celebrities and to handle movie reviews over the last 12 years. While she has focused some of her work over the years on gossip topics, she still finds that most of her experience does remain in investigative journalism. Ms. Bryant holds a Masters in Journalism and spent her youth working on general interest stories as she worked her way through college. This experience has allowed her to build a solid understanding of how the journalistic process works and how to deliver a piece of writing that not only delivers the full story, but answers the questions that her readers have. This focus on quality certainly has earned her respect from readers and peers over the years. When she isn't working on her articles, Lacy spends her spare time reading books and reviewing them. With a passion for topics that range from Romance to Mystery and Thriller, she is also a talented literature reviewer. This experience has also allowed her to extend her career past the basic points of journalism. Her dream is to one day to write a well-received mystery that incorporates many of the twists that she has discovered in her time working in investigative reporting. As a Native of Louisiana, she is proud of her heritage and remains focused on making her hometown of New Orleans proud. She is married and the proud mother of three beautiful girls.