Deals Web site Groupon Inc. appears to be making preparations to start operations in China, a move that could shake up the market for group buying, even though challenges lie ahead for the young U.S. company.
Chicago-based Groupon, which opened in 2008 selling discounted products and services from local merchants such as restaurants and nail salons, faces a huge Internet market that has confounded some of the world’s biggest players. Get the full story »
A Virgin America Airbus A319 airplane. (Charlotte Southern/Bloomberg)
By Julie Johnsson and Wailin Wong | Virgin America entered the Chicago market Wednesday with typical flair, unveiling a Groupon Deal of the Day that slashed prices on its new West Coast service to $128 round-trip.
The deeply discounted deal was the first air fare to be featured on Chicago-based Groupon and sold out in Chicago in just 8 minutes, said Virgin America spokewoman Abby Lunardini. Within 45 minutes, Virgin’s Groupon offer had sold out in San Francisco and Los Angeles, a total of 2,100 fares in all. Get the full story »
Gov. Pat Quinn is expected to announce during his budget address Wednesday the creation of an innovation council to be headed by Groupon co-founder Brad Keywell.
Part of the council’s job will be to determine what kind of projects the state needs to support to be able to compete in the global market place, such as developing new technologies in agriculture, finance or in a combination of industries. Get the full story »
Groupon Inc. Chief Executive Andrew Mason said the Chicago-based daily deals provider is pulling all of the Super Bowl ads that had provoked a negative reaction online earlier this week.
“We hate that we offended people, and we’re very sorry that we did – it’s the last thing we wanted,” Mason wrote in a blog post on Thursday, adding: “We will run something less polarizing instead. We thought we were poking fun at ourselves, but clearly the execution was off and the joke didn’t come through. I personally take responsibility; although we worked with a professional ad agency, in the end, it was my decision to run the ads.” Get the full story »
CardStar Inc., a company that makes a popular mobile application to organize store loyalty cards, is now including daily deals service Groupon in its app.
Boston-based CardStar said it is the first mobile loyalty app to integrate with Groupon. CardStar launched its app for the iPhone in January 2009 and has 1.3 million users. The CardStar app uses the GPS technology built into mobile phones to identify a user’s location and display Groupon deals for that area. Users will need a Groupon account to buy the deals. Get the full story »
From Crain’s Chicago Business | Groupon has secured a spot during the Super Bowl to air a commercial being created by Christopher Guest. Earlier, the company thought it would only have access to pre-game and post-game commercials. Get the full story>>
Christopher Guest — the mockumentary director behind “Waiting for Guffman” and “Best in Show” — will direct Groupon’s spots for the Feb. 6 Super Bowl broadcast, a rep for Guest has confirmed.
It’s not clear what will be in the ads or how long they will run, but Groupon employees will be “eating mini-quiches” and not taking bathroom breaks about 30 minutes before the game and during the “Glee” episode airing later, a source close to the company joked. Get the full story »
From Bloomberg News | Groupon Inc., which last month rejected a $6 billion takeover offer from Google Inc., isn’t convinced it will sell shares in an initial public offering anytime soon, said Chief Executive Officer Andrew Mason. Get the full story>>
Google Inc., after failing to acquire daily-deals Web site Groupon Inc., said it is preparing to test a competing service that offers deals to local businesses such as restaurants.
The Internet search giant, which on Thursday also announced that co-founder Larry Page would take over as chief executive from Eric Schmidt, didn’t release details about the new effort — Google Offers — that aims to grab a larger share of the small but growing online-ad market for local businesses. Get the full story »
Online review hub Yelp has launched local deals in Chicago, hoping to get a foothold in the daily deals space pioneered by Groupon.
Yelp Deals launched Tuesday in Chicago, becoming the fourth city for the company’s local offers program. The other cities are San Diego, New York and San Francisco. Get the full story »
Groupon is in talks with Chinese Internet giant Tencent to form a partnership to accelerate its effort in the critical Asian arena, said several sources with knowledge of the situation.
Terms of the deal are unclear, but sources said that it is likely to involve some sort of co-branded joint venture effort between the two–a key strategic move for Groupon given the hard-to-penetrate-if-you’re-not-Chinese Chinese market. Get the full story »
Groupon CEO Andrew Mason in a video to Japanaese customers. (YouTube)
The chief executive of Groupon, the rapidly growing online coupon provider, apologized to Japanese customers Monday for a New Year’s deal gone wrong that highlighted the difficulties the company faces in managing its global expansion.
In a subtitled video message uploaded onto YouTube, the company’s founder and CEO Andrew Mason acknowledged that the company had “really messed up” and outlined steps it was taking to rebuild its tarnished image in Japan. Get the full story »
New York Times News Service | Groupon, the social buying site that spurned a $6 billion offer from the search giant Google, is pushing ahead with plans for its initial public offering, a debut that could value the company at $15 billion or more.
The company, which just raised a record $950 million from big investors, discussed a public offering with bankers this week, according to two people with knowledge of the deal who were not authorized to speak publicly on the matter. Banks are pitching Groupon on dizzying valuations at which they expect to take the company public, with many at $15 billion. Get the full story »
From Tech Crunch | Fresh off its billion dollar funding round, Groupon has snapped up more international competitors: Israel’s Grouper, South Africa’s Twangoo and India’s SoSasta. All sites will take the Groupon name. Terms of the deals were not disclosed. Get the full story>>
From Crain’s Chicago Business | Social coupon giant Groupon is investing in TV advertising, including pregame spots in the Feb. 6 broadcast of Super Bowl XLV. Get the full story>>
